Originally Posted By: blue water pro
Urban myth.

Produce one economist who shares the opinion, it's just not true.
You blame Freddie & Fannie inadvertantly caused FHA eased their underwriting...and therefore Wall Street comps were free to write what they wanted? Is that what you are saying?

http://www.ticker.com/?page=investment_c...le&id=47278


God what a stupid link that is. You only ask that question, when you want to avoid the truth.

A bubble is in fact the result of running out of buyers. By 2005 in the fall, the banks were making interest only loans to dead beats and their girlfriends, who were not even married. I met one. It was exactly his situation. My buddy is a mortgage broker and he told me all the loans that required no verification were called drug dealer loans. How stupid is that?