Quote:
Originally Posted by SuzeQuze
. . . Also, why would they want to give a mortgage someone cannot pay? That's financial suicide.
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Look at the appreciation of property values over the last ten, and IMO really almost 15 years. That is the answer. They (the banks and IMO the buyers) were specualting on the rise of property values. Again, who cares if the mortgage goes bad if you (the bank or pwner) can always sell the house and walk away with money as many many people did.
Again, there are many people who lost their jobs, got sick, etc. and could not pay their mortgage. I am not talking about those people.