re: #476 000G

That sounds like you are blaming the investors more than the bankers who initially created the subprime mortgage vehicles.

Heh, there’s no shortage of blame to go around.

Don’t get me wrong - if I had my way half of all the those who hawk real estate would be in jail!

Ultimately, though, I blame (if “blame” is the right word) our society for embracing unrealistic views of life and propagating some very, very wrong notions. Such as, everyone should buy their own house. No. Home ownership used to be much lower, and that was realistic given the financial requirements to properly maintain property as well as the fact that Americans are highly mobile people who don’t want to stay in any one location for too long.

If you look at long term graphs of home ownership among Americans you can see how the trends have developed over the decade. I suspect we have hit our peak of the % of Americans who will live in their “own” (though more correctly, financed) property.