ucbruin
Elite Member
- Joined
- Mar 11, 2014
- Professional Status
- Certified Residential Appraiser
- State
- Massachusetts
"Mounting evidence suggests that the notion that the 2007 crash happened because people with shoddy credit borrowed to buy houses they couldn’t afford is just plain wrong. The latest comes in a new NBER working paper arguing that it was wealthy or middle-class house-flipping speculators who blew up the bubble to cataclysmic proportions, and then wrecked local housing markets when they defaulted en masse."
http://www.msn.com/en-us/money/real...-subprime-borrowers/ar-AAqWEBx?ocid=spartannt
During the early '90's crash....
New home speculation was quite large in the early '90's......
http://www.msn.com/en-us/money/real...-subprime-borrowers/ar-AAqWEBx?ocid=spartannt
During the early '90's crash....
New home speculation was quite large in the early '90's......