Just Where oh Where Does the Buck Stop

When will we all start taking rightful responsibility for the financial woes of the housing market.  I just read this article "Flippers Housing Bust Role larger than thought"  and I am seething.

Having worked in the real estate business for many years, I can say for sure that GREED is the culprit and that it crossed the lines from banks to bankers to sellers to buyers to appraisers - and the list goes on.

Flippers play a role in the real estate market and until GREED rears its ugly head they fill a need.

Twenty years ago, when my husband was a mortgage lender at a bank in St. Louis MO, any loan that defaulted was the responsibility of the bank.  They took the hit.  Now all of the loans are packaged and sold in an airy fairy market where the default lands in pension funds.

Let's all take the responsibility that is ours.

PBS - Who's Responsible

Opinions from The Hill