[Always Right]

The correct answer is A and B.....First there was A which overinflated prices, then B followed in which banks over-reacted which turned a correction into a major crisis.

[Yo-Yo]

I choose (c) reckless lending by institutions more interested in writing mortgages so they could be bundled and sold than they were in the ability of the borrower to pay.

[shuckmaster]

Just don't blame local govs for constantly jacking up assessments to absurd levels to justify higher tax income. They didn't have anything to do with it.

[Mark was here]

Too many dollars chasing to few assets drives the price of the assets higher, than the market would other wise value the assets.