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4 Comments on How Did a Domestic Housing Slump Turn into a Global Financial Crisis?
I'm going to have to print that out to read in it's entirety - great information!
Spencer: It proves Thomas Friedman's book "The World is Flat" is true. I assume you've read this. If not, I think it's an interesting and great read. Thanks for the post!
Bad lending policies 0 down no closing costs, 120% ltv spread all over the globe. If you have not saved for down payment and closing costs you have no real investment. I remember when you had to have 10% down. then there was the 5% then 3% then 0.
I've been blaming Alan Greenspan for a while. I'll keep doing it.