> > Mostly because they could not afford the home on the terms they > agreed > to and thus never should have purchased them. Who is objectively supposed to assess which applicant's can and cannot afford a home? The banks always have before (is it a legal mandate or fiduciary responsibility, or both?) Seems a little simplistic to pin it on home buyers, especially since they have the least resources and no surfeit of objectivity. Of course, that's the problem with cheap money, it robs the financial industry of objectivity as well.
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