|
Southeast Colorado | The entire Home equity mortgage thing I mentioned above, along with the govt lowering loan requirements directly led to the 08 housing crisis. I had family members caught up in it.
Heck, leading into that you could buy a new house with basically no money down, pay interest only payments, and instantly re-mortgage it on the expected rise in future value. It was crazy stupid. I tried to get my brother to listen...........but oh well.
And he was raised on a penny pinching farm. I could only imagine what many of the masses were doing. Nary a day went by during the late 90s and early 00s where my mailbox didn't have a home mortgage company flyer in it.
Edited by tmrand 2/15/2025 12:23
| |
|
Trump!
