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Banks were pressured to lend to anyone able to sign their names. Builders, appraisers, and realtors got greedy and in on it, too. But the main issue was people taking out loans with no emergency savings, bad credit, no money down, etc.
If you don’t have the brains to do the math and understuwhat you can afford, then you do not deserve a mortgage; which is the opposite of what the government was telling folks.
Blame goes all the way around.
The worst part is that is slowly and discreetly happening again.
Yep, thats because most of america is "poor" when compared to the top 10%. So if lending of all kinds were highly tightened and poor people just had to be poor (no loans, no credit cards, etc) then the upper eschelon would be totally screwed, what are the millionares going to do all just loan money to each other that they dont need or sell each other stuff they dont need?
The rich need the poor to be in debt because if all the poor lived within their means you would see the income gap come to a screeching halt.
Yep, thats because most of america is "poor" when compared to the top 10%. So if lending of all kinds were highly tightened and poor people just had to be poor (no loans, no credit cards, etc) then the upper eschelon would be totally screwed, what are the millionares going to do all just loan money to each other that they dont need or sell each other stuff they dont need?
The rich need the poor to be in debt because if all the poor lived within their means you would see the income gap come to a screeching halt.
I saw a guy in 7/11 last week pay $1 for one banana. Rich people don't do that.
The rich go to starbucks to get their bananas one at a time
I use to help low income people/families develop personal budgets when I volunteered for a non profit. The amount of bank fees and/or payday loan fees/interest they pay is staggering to me. Just a waste.
I saw a guy in 7/11 last week pay $1 for one banana. Rich people don't do that.
Rich people pay their housekeepers money to go buy their bananas. they don't know what a banana costs becuase they haven't been in a supermarket in years, they prolly think bananas cost $2 each.
What's wrong with giving low income folks a shot at home ownership?
Mistakenly thinking that home ownership is generally for low income folks.
A burger flipper should aim a little higher before he think he’s entitled to a home.
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Gotta keep pushin' that rope!
