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re: Why were house prices going up like crazy during the housing bubble?
Posted on 9/19/17 at 5:34 pm to ItNeverRains
Posted on 9/19/17 at 5:34 pm to ItNeverRains
Additionally banks/brokers decided everyone deserved a loan.
It didn't matter if they could pay it back because they weren't going to be ending up holding them.
It didn't matter if they could pay it back because they weren't going to be ending up holding them.
1
Posted on 9/19/17 at 6:46 pm to RJSambola
quote:
Additionally banks/brokers decided everyone deserved a loan.
Not quite, they had people lined up to buy loans, even the garbage ones.
quote:
It didn't matter if they could pay it back because they weren't going to be ending up holding them.
The people buying them knew they were buying garbage loans
It wwas one of the most shitastic displays of improperly applied risk pooling in history.
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