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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (80056)	6/25/2007 11:16:44 AM
From: Smiling Bob	Read Replies (1) \| Respond to of 306849

Thanks. BZH seems to have a history of unscrupulous dealings. John's point was probably that the issue becomes greatly magnified with larger mortgages in other bubble areas. Incomes in other areas just aren't that much higher to permit a loan of 3-5 times higher, as many are. Sleazy lenders and brokers were popping up like weeds. Certainly not confined to NC. They just needed to sell the loan to the consumer for eventual bundling and passing of the buck. The press is really just now beginnning to question whether the magnitude of the problem was understated. Of course, we all know it was. We didn't listen to the Lereah's and the other "official" sources. But the greater majority blindly depended on the "expert" opinion. How long did the market rise because so many said the fallout was being grossly exaggerated by the fearmongers?