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Think about it. All these banks around the world failing because they were all trying to make money off US sub-prime debt? Do you think it is appropriate that a house should cost $ 65,000 to build (including land), but then sold for $ 300,000+ because “The market can absorb it”?

I mean, seriously, who is to blame the most? The builder making insane profits knowing fully well they are contributing to artificially inflated values? The buyer who bought thinking it was a good deal (should known better)? Or everyone else who made money in the process (Speculative real estate investors, mortgage brokers, banks that bought these mortgage loans expecting to get paid 3 times the already artificially inflated value, or the wall street banks that arranged these loans to be sold to all over the world)?

1 Thought on Are banks failing around the world because they were all trying to game the American consumer?
  1. Reply
    April 30, 2011 at 12:27 am

    Interesting. I don’t really know much about all of this, but that was an interesting read. Thanks.

    No, I don’t think its appropriate for a house to be $ 300 000+. That is wrong.

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