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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: bentway who wrote (164514)11/15/2008 11:31:41 AM
From: patron_anejo_por_favorRead Replies (1) of 306849
 
O'Neill (though I do like his books) is definitely an arch-conservative, to be sure. If you wanna trace back problems with RE lending, clearly the seminal event was widespread mortgage securitization, where lending origination reward became divergent with the risk posed by the decision. This started in a big way in the 80's (read Liar's Poker); it was widely supported subsequently by both parties. I've no doubt that ideologues wanna make political hay out of it but they're all fulla $hit. It wasn't left against right, it was the residential-industrial-political complex vs taxpayer/savers.
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