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

To: patron_anejo_por_favor who wrote (149263)	9/23/2008 3:28:29 AM
From: NOW	Respond to of 306849

and why may i ask, is what you just wrote so gosh darn hard for people to keep straight? why do i continue to hear overtones on this thread itself that the blame should lie principally with the borrower?

To: patron_anejo_por_favor who wrote (149263)	9/23/2008 3:41:49 PM
From: neolib	Read Replies (1) \| Respond to of 306849

No. It's realtors, mortgage brokers, mortgage insurers, appraisers, mortgage origintator's, home builders and investment banks. Everyone else was a customer. You left out the impact on employment of all of those, the impact that that employment had on all other sectors of the economy, etc. What fraction of Bush's employment growth (LOL!) was driven by the housing boom? You left out MEW wealth extraction by all the "other people", and how that was spent on cars, boats, vacations, etc. Things are not nearly as "contained" as you imply, IMHO.