2009-06-09 — housingdoom.com
" Banks made two major errors during the lending boom. One was passing out wonky mortgages to noncredit worthy borrowers. This caused the subprime debacle. The other was lending large amounts of money on properties selling for speculative prices. This allowed prices to rise beyond the means of the usual pool of buyers. This is the new "prime debacle"."
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.