 Quote:
Originally Posted by brewer12345
I smell gibbering fear and abject stupidity. The fed is slashing rates every chance they get and you want to sell banks? OK, happy to take your money.
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the issue is not rates being too high, but that the banks made a lot of loans they had no business making under the impression that people can pay 80% of their incomes toward their mortgage or that prices will always go up and they will find a new sucker to buy a 1000sq foot shack for $600,000 in SoCal.
a lot of these people could barely afford the teaser rate payments
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