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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (588574)10/14/2010 1:11:28 PM
From: TimF2 Recommendations  Read Replies (1) of 1573221
 
"The point is that you get more careless mortgage lending after a big increase in housing prices starts"

Wiggle, wiggle. Squirm, squirm.

Its easy to type "wiggle wiggle", but doing so does nothing to refute the important point I raised.

Also the regulation applied to companies who made many of the bad loans, even if not a majority. Lawsuits and political pressure extended the reach further, as did the general distortion of the market caused by regulation changing the actions of some of the important players (which has an effect on those who don't directly feel the impact of the specific regulation), and by all sorts of other forms of government intervention from the mortgage interest deduction, to Fannie and Freddie, and other political, legal, judical, and regulatory interventions.

The government has pushed home-ownership as a policy very strongly. Both parties have supported doing so. That process contributed to the bubble, and to poorly qualified people participating in the bubble.
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