http://www.vegasbubble.net/was-the-current-housing-crisis-created-by-amateur-real-estate-investors Just another WordPress weblog Tue, 07 Sep 2010 01:01:10 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.vegasbubble.net/was-the-current-housing-crisis-created-by-amateur-real-estate-investors/comment-page-1#comment-2890 agoodquestion Tue, 09 Feb 2010 23:24:45 +0000 http://www.vegasbubble.net/was-the-current-housing-crisis-created-by-amateur-real-estate-investors#comment-2890 I live in Nevada. Homes were selling here sight unseen to "investors" looking to get rich. Mostly people from California thinking our market would go up as theirs had. It was just crazy. Homes were going up in value each day, everyone was trying to get in on it. As the home values were going up and interest rates were so low the mortgage companies were just giving out the loans to anyone that could sign their name. I don't feel that the mortgage companies were forced to do anything. I think the people and banks just wanted to all get in on the free money to be made in real estate. Now that the bubble burst and everyone is going under, everyone is looking for somone to blame. I don't think any pokitical party is to blame, I just think people are greedy and not always very bright. I live in Nevada. Homes were selling here sight unseen to "investors" looking to get rich. Mostly people from California thinking our market would go up as theirs had. It was just crazy. Homes were going up in value each day, everyone was trying to get in on it. As the home values were going up and interest rates were so low the mortgage companies were just giving out the loans to anyone that could sign their name. I don’t feel that the mortgage companies were forced to do anything. I think the people and banks just wanted to all get in on the free money to be made in real estate. Now that the bubble burst and everyone is going under, everyone is looking for somone to blame. I don’t think any pokitical party is to blame, I just think people are greedy and not always very bright.

]]> http://www.vegasbubble.net/was-the-current-housing-crisis-created-by-amateur-real-estate-investors/comment-page-1#comment-2891 a_wood80 Tue, 09 Feb 2010 23:24:45 +0000 http://www.vegasbubble.net/was-the-current-housing-crisis-created-by-amateur-real-estate-investors#comment-2891 No, it was caused by the government forcing banks to give loans that they normally would not have given, based on credit histories. No, it was caused by the government forcing banks to give loans that they normally would not have given, based on credit histories.

]]> http://www.vegasbubble.net/was-the-current-housing-crisis-created-by-amateur-real-estate-investors/comment-page-1#comment-2892 googie Tue, 09 Feb 2010 23:24:45 +0000 http://www.vegasbubble.net/was-the-current-housing-crisis-created-by-amateur-real-estate-investors#comment-2892 See the type of answer you get about the government having forced the banks to give loans ? Not that the oversight committees headed by Senator Dodd and Bernie Franks fell asleep on their jobs, and never questioned the types of loans, not that their committees ever looked at the sub prime rates or the type of mortgage contracts being written or the oversight of Freddie Mac and Fannie Mae which guaranteed over 50% of the mortgages written . See the type of answer you get about the government having forced the banks to give loans ? Not that the oversight committees headed by Senator Dodd and Bernie Franks fell asleep on their jobs, and never questioned the types of loans, not that their committees ever looked at the sub prime rates or the type of mortgage contracts being written or the oversight of Freddie Mac and Fannie Mae which guaranteed over 50% of the mortgages written .

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