It boils down to several things. 1. banks being greedy (for the closing cost money), and writing any and every type of loan they could (assuming the economy would always be going up). 2. home owners living beyond their means and assuming the economy would always be going up.
We had more than 50 quarters of positive growth. Everything runs in cycles including our economy.
By the end of this year I should have everything paid off and will be completely dept free.
Tom
Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.
Benjamin Franklin, US author, diplomat, inventor, physicist, politician, & printer (1706 - 1790)
| 
