[plain talk]

All of the above? duh. That wasn’t my question. My question is what class of people primarily are responsible for the defaulted loans? Not sure anyone knows that or has supplied that.

[Polybius]

All of the above? duh. That wasn’t my question. My question is what class of people primarily are responsible for the defaulted loans? Not sure anyone knows that or has supplied that.

What part of "All of the Above" do you have trouble understanding?

Are you expecting a simplistic answer to confirm your simplistic premise that only one "class" of people was responsible for the idiocy of the Housing Bubble?

The reality is that everybody from the burger flipper that signed a $200,000 mortgage he couldn't repay to the middle class Joe Six Pack that signed a $600,000 mortgage he couldn't repay to the successful lawyer that signed a $1.5 million mortgage he couldn't repay are ALL defaulting.

As bills mounted and revenue shrank, the board of Miami Beach's luxury Bentley Bay condo knew it had to take drastic action. Facing a spike in delinquencies and the need to pay the bills, the Bentley's condo association opted to take a hard line with lenders that took over units there -- many from investors who went into foreclosure.

If you want a simplistic answer to your simplistic premise, here is your answer.

Low income borrowers are defaulting in low income neighborhoods.

Middle class borrowers are defaulting in the suburbs.

High income borrowers are defaulting on the luxury Miami Beach condos they bought at Bentley Bay.