reply to post by DaddyBare
I agree that it is a sad situation and am not trying to make light of it, but I do find it amusing that everyone is trying to blame someone else. I
definitely don't enjoy watching people lose their homes and be put out on the street, but the reality is that most of them bought houses that they
couldn't really afford. The only way that they could get in was with adustable rate or interest only loans and they speculated that home prices would
continue their rapid appreciation and that they'd be able to refi into a fixed rate they could afford. They gambled and lost. Home prices were simply
not tied to any economic reality and now, as they have done in the past, they are corrrecting themselves.
