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)?