New York's attorney general today sued a major real estate appraisal company for allegedly colluding with Washington Mutual to inflate the value of thousands of homes, the first strike in a widening investigation of allegedly fraudulent practices that contributed to nationwide troubles in the housing market.
Its about time the crooked realtors, appraisers, mortgage brokers and lenders start getting nailed for their crimes against society.
Many reading this were stupid enough to think that real estate values never go down.
Yet one more reason to allow dynamic pricing to establish values and not some idiots "opinion" of value.
I hope this is the first of many criminal lawsuits.