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I head a comment on the news where one of the castors said. " a Friend told me that he hopes the credit loosens up soon so he can get loans to pay his employees!" NOW HOW THE FUCK does that work.
Its not just the housing industry that did this. Its every thing.
I do put a good portion of blame on the Banks and lending institutions for telling people that the rates were low and would stay that way for some time and by the time they went up enough to make a difference, they individuals income would be high enough for it to not matter.
Had someone tell me this.
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