A good 'dumbed down" explanation of this whole mess.
That was awesome. Scary yet informative.
Makes sense to me now that the subprime BS should have never happened.
IMHO, the problem starts earlier on. People buying a house as an investment, rather than as a place to live is the root cause of the problem.
Yipes...
Makes me glad I put as much cash into buying my place as I did, no over leveraged BS for me :ph34r:
NefCanuck