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re: The Last Time The Price Of Oil Crashed Like This?
Posted on 12/22/14 at 3:13 pm to southernelite
Posted on 12/22/14 at 3:13 pm to southernelite
quote:
When you're leveraged so much, you become much, much more sensitive to commodity prices. Even the slighest uptick is going to wreak havoc.
Yes but many couldn't afford the homes from day one. Predatory lending was huge during that time and people were dumb and greedy enough to fall for it. They were sold the American Dream so banks, realtors, and mortgage underwriters could all cash in.
2
Posted on 12/22/14 at 3:20 pm to stout
There are several areas that it's still happening, on a micro scale. The Spring/Woodlands area is about to burst. That market has seen major jumps in the housing prices in the last year or so. It's interesting to watch.
Posted on 12/22/14 at 3:40 pm to stout
There were tons and tons of factors that culminated together. You can't blame it on just one. Just saying it was big banks fault is such a cop out.
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