The Undeniable Truth Behind What Toppled The Housing Market

Joe - There certainly are many entities (seen and unseen) that caused the economic pickle we are in with housing being at the epicenter.  Yes, there were the subprime mortgages given to borrowers who found them explode in their faces when the loans reset.  BUT, what really pumped up the situation on steroids, was likely the mortgage derivatives products which were created with each fund manager slapping on his fees, and driving it out the door. . .And who among us even knew what a credit default swap was a year ago?

Hi Joe, An interesting post  ( both of them ) and we know for a fact that some real estate licensees did in fact, while acting as both the agent and the mortgage person did not offer very good consumer counseling. So when in your other blog you asked  if " REALTORS were responsible"  that "No" answer was mostly correct. Most of the agents who failed their responsibility were not REALTORS. You know, that pledge to abide by a strict Code of Ethics was just too expensive and membership in the local state and national association was a waste of time and money. But as REALTORS we didn't differentiate  ourselves very well either.