I agree with you, and it’s the reason people aren’t jumping out of buildings. Everyone knew what was going on. For the most part, the buyers knew the mortages were bad for the long term...they wanted those big houses and they wanted them now. The sellers knew their homes were being appraised way above what they should have been valued...and they turned a blind eye. Just like the artificial tech boom..everyone knew one day it would come to an end. As usual, the rich get out right before (That’s why they’re rich). We all knew we were part of a sordid pact. But as long as everyone was getting what they wanted...
so what to invest in now ? ...will gold hit 900 before next summer ?