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Originally Posted by joethiesmanfan

Don't even try the subprime blame game. Most foreclosures were people with multiple mortgages. You had people with 6 or 7 mortgages, counting on rising housing prices to make a profit. These are the people who can walk away, because they have homes. There were a few that defaulted, and this was their first home and only home, in those cases it wasn't the subprime mortagage. Beazer homes had people (couples) defaulting on 700 dollar a month mortgages (drug problems). Blame greed and speculation. The reason they had to make subprime mortgages "oh yeah, remember Bush's reelection campaign (Ownership Society)". Democrats had congress for 2 years, republicans for 6. None of their magic cures for america's ills were implemented. Atleast THE democrats can implement an agenda. Ownership society was a money grab plan, they made no stipulation about how many or who gets the subprime loans. They figured two years was all they needed to sell the homes. So they bought many mortgages. Dumbasses built too many houses and market forces forced prices down. Foiled again!!!! The rest is history, first black president etc.

Please provide some data to back that. You really should read up on stuff because you have no clue what your talking about.