I, like many of you, have had a hard time following what actually happened in the housing crisis. I hear foreclosure and subprime used but that makes it sound like the problem is with poorly prepared buyers and a few gullible lenders. Well read on. This interview with Martin Eakes will give you some background into the depths of predatory lending and the article from yesterday's Atlanta Journal Constitution will shed some light on high deep this problem goes and how greed plays a substantial role. Hope this helps.
Finally, housing is still a crisis in our country for millions of Americans who cannot get into the market or who can't afford to live in housing that meets even minimum standards. Despite the naysayers who blame the victim or say it is a made-up problem, we must continue to press on the issues as Meizhu Liu writes in today's Washington Post that prevent people from buying homes that are affordable and safe.
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