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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: ggersh who wrote (287910)10/31/2010 6:12:26 PM
From: ValueproRead Replies (2) of 306849
 
"you're forgetting about whose responsibility it is
to due due diligence!"

And the real estate brokers are supposed to pre qualify buyers, and the mortgage brokers are supposed to qualify borrowers, and borrowers are supposed to have enough sense to know when too much debt is too much. It ain't just the banks at fault.

By the way, bubbles are sustained by those buying in and those selling into it. By the time everyone understands what's going on, they are so addicted they can't stop, even though everyone knows it's only a matter of time before things pops.

Like I said, it's a cycle, and it's social psychology. No matter what is done now in the aftermath of the Financial Crisis, it will happen again.
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