Realtor's Say it Is A Buyer's Market

[Billy Bob]

Originally Posted by patman

Forced or allowed? Big difference. Citation?

Actualy George Bush had a large say in increasing the percentage of homeowners to levels that were not sustanable . Lots of room to find fault .

Lax lending and low downpayments led to buyers with no skin in the game and when values went down they headed for the hills

[Belmont Resident]

Originally Posted by Billy Bob

Actualy George Bush had a large say in increasing the percentage of homeowners to levels that were not sustanable . Lots of room to find fault .

Lax lending and low downpayments led to buyers with no skin in the game and when values went down they headed for the hills

Just because the bank did this or the government did that the bottom line is the person applying for and buying the property got themselves into the situation.
You can lead a horse to water but you can not force it to drink.
People got themselves into the predicament by over extending themselves and buying property that they could just barely afford to begin with.
The banks did allowed them to fail, but in the end they made the decision to purchase the property.