Mortgage and Real Estate Blog

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This is why Real Estate got into trouble... a look back.

This is why Real Estate got into trouble... Not disclosures, not loan programs, not loan officer compensation...

Rather a gimme gimme gimme... I deserve... attitude OF CONSUMERS.

Unfortunately, the lending industry was all too willing to give these STUPID folks the money too - and like this commercial, encouraged dumb people to do even dumber things!

A commercial from the height of the boom...

Today, many consumers have wised up, but as a Loan Officer, I can tell you many of these same people are still trying to get loans and live outside their means.  The difference this time is the lending industry won't give it to them...  too bad Washington hasn't learned!

THOUGHTS?

 

Comment balloon 1 commentJoseph Metzler • September 03 2013 12:58PM
This is why Real Estate got into trouble… a look back.
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This is why Real Estate got into trouble… Not disclosures, not loan programs, not loan officer compensation… Rather a gimme gimme gimme… I deserve… attitude OF CONSUMERS. Unfortunately, the lending industry was all too willing to… more