Has the American belief that we have a God-given right to own a home, created the mortgage crisis?

Top incoming search terms for this post

3 Responses to “Has the American belief that we have a God-given right to own a home, created the mortgage crisis?”

1. ADP_14 on: 21 June 2009 at 5:03 pm

   It was a lot of factors, but there was certainly a concerted effort by the banking industry to push this American Dream of Homeownership on the american people.

   But you also have to blame the banks for making money available at prices that did not factor in risk properly (lax underwriting standards), the Fed for allowing it to happen by lack of regulations and insanely low interest rates, and the investors for buying insane securities based on obviously fraudulent ratings from ratings agencies that were being paid by the banks to rate their instruments. The homeowner who failed to read the terms of their loans or wanted a house so terribly they didn't care. the realtors who were out spouting BS how home prices never drop (and still are on this board and other places). The Government as a whole for lying about inflation and unemployment numbers for the past 30 years, The mortgage brokers who pushed people into riskier loans so they could make more on commissions.

   I'm sure I forgot a few, but blaming any one factor for this mess is a yucky oversimplification.
2. Posts about Home Sales as of June 21, 2009 | Real Estate Market Reports on: 21 June 2009 at 5:13 pm

   [...] Joe Manausa on June 21, 2009 Has the American belief that we have a God-given right to own a home, made the mortgage crisis? – plotting-financial.com 06/21/2009 Tags: adecco, alex jones, brodrick, definition blog, [...]
3. Shopping for all ages » Blog Archive » Has the American belief that we have a God-given right to own a home, created the mortgage crisis? on: 21 June 2009 at 9:52 pm

   [...] View original post here:  Has the American belief that we have a God-given right to own a home, made the mortgage crisis? [...]