re: #439 freetoken

I think it is also important to keep in mind that the “financial crisis” manifested itself in 2008 after the US real estate collapse had begun.

The significant overbuilding in US real estate had outsized influence because the US economy has become so dependent upon “growth” in real estate, and the related activities in refinancing to finance other kinds of consumer purchases.

Real estate loans became too important to the financial industry, which over exaggerated the value of said “assets.

But that was pretty much unavoidable. Real estate titles and even more so the titles for the property the real estate is located on are traditionally the most secure forms of property titles. As such, they are intrinsically important for making up the asset base that most loans are backed up with. And this is why fucking with that market through financial shenanigans had inevitably atrocious effects.

I still cannot believe that there aren’t a lot more people in jail over this.