Quote:
Originally Posted by EscortBiz
you need 20% down to buy, people dont save in the US they simply cant because they upped their lifestyles using credit lines and credit cards, the only reason housing went up is because you could buy it with 0 down
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Exactly correct, the ease of money being borrowed created an artificial housing demand, which in turn spurred supply, so you have excess inventory. There was no real true demand for housing, just a lot of buying power.