I’m in the real estate industry for 18 years.
bottom line - carter and the CR Act, clinton opened the flood gates on the CR Act, Fannie & Freddie and the DemocRATS forced lenders to make loans to people who weren’t qualified. bawney fwank, chris dodd, franklin raines are economic terrorists. add to that the stupid and dumb Obama not being able to fix properly and voila — prolonged real estate depression that affects EVERYONE.
...and those forced to make those loans invented Credit Default Swaps and Mortgage Backed Securities to ensure they were enriched by the defaults. Seeing how profitable this could be for them, they loaned money to people who couldn't pay for a stick of gum.