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View Poll Results: Who's more responsible for recent housing crash?
Realtors 12 66.67%
Appraisers 6 33.33%
Voters: 18. You may not vote on this poll

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Old 04-08-2012, 02:43 PM
 
56 posts, read 94,654 times
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Poll's coming up.
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Old 04-08-2012, 02:45 PM
 
Location: NJ
17,578 posts, read 43,952,373 times
Reputation: 16238
I put very little blame on either. Banks and home buyers get the vast majority of blame in my book.
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Old 04-08-2012, 03:21 PM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,958 posts, read 21,140,953 times
Reputation: 6440
Gee you left out mortgage folks who did liar loans. Left out Wall Street CDO's. Left out greedy buyers.
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Old 04-08-2012, 03:24 PM
 
56 posts, read 94,654 times
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Quote:
Originally Posted by DMenscha View Post
Gee you left out mortgage folks who did liar loans. Left out Wall Street CDO's. Left out greedy buyers.
At least I didn't left out greedy agents.
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Old 04-08-2012, 03:47 PM
 
Location: Tampa Florida
272 posts, read 575,656 times
Reputation: 229
Lots of blame to go around, including the buyers. Unless they were somehow forced against their will to purchase homes?
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Old 04-08-2012, 04:25 PM
 
Location: Lakewood Ranch, FL
5,648 posts, read 9,905,702 times
Reputation: 6870
Of course I am biased but I got in after the run up. Realtors don't make the market, buyers and sellers do. It takes two willing parties. Realtors just take the information after the fact and the trend and make a prediction on where the next buyer and seller will fall. Appraisers, on the other hand, are responsible for helping lenders determine if the risk they are taking makes sense. If the lenders look the other way while the appraisers give them what they want to see, how is that the Realtors' fault? In my book, the Realtors have to fall in somewhere at the bottom of the list but, again, I see it from the inside and I'm not taking into account the relatively few weasels that really were doing something wrong.
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Old 04-08-2012, 04:35 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
38,416 posts, read 69,183,301 times
Reputation: 45713
I too place most of the blame on the mortgage companies, but the appraisers "played ball" with them and were happy to make sure that they always appraised at or above asking price. It was the gimmick loans with balloon payments, interest only and low down payments that should take most of the blame. While realtors benefit from higher prices, they are really just doing their job by
trying to get the highest possible price to help their seller.
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Old 04-08-2012, 05:15 PM
 
3,585 posts, read 6,517,626 times
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I blame regulators of fannie/freddie plus AIG and other insurers of credit default swap.

Without those insurers, the big banks would not have made risky bets. if no one wants to insure your risky products you don't don't do the loans.

Of course Fannie and Freddie were buying all these toxic loans and not clearly evaluating the clients or the risk.

You stop things at the top you stop everything.

Realtors are just a pawn in the whole blame game. They wouldn't push a home sell through if they knew the mortgage wouldn't be approved. It would be a waste of time.

Stop the hole at the top. You stop everything.
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Old 04-08-2012, 05:21 PM
 
Location: DFW - Coppell / Las Colinas
39,305 posts, read 44,497,851 times
Reputation: 49933
Well, it all started back about 1994 when Bill Clinton decided every person should buy a home whether they could afford it or not.

It went down hill from there.
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Old 04-08-2012, 05:34 PM
 
5,206 posts, read 13,267,761 times
Reputation: 4312
Quote:
Originally Posted by colincobre View Post
Poll's coming up.
Absolutely neither. I blame Wall St. and their crappie loans that circumvented Fannie/Freddie/FHA (Alt A & subprime) and the ratings agencies like Moody's & S&P.
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