PhDeac
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- Joined
- Mar 16, 2011
- Messages
- 155,480
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How did Group 1 get the shaft or take its medicine? For the most part, they got to live in a house that they otherwise never could have afforded for 2 or 3 years on an interest-only payment. Then they walked away and everyone else who made rational decisions picked up the tab. That isn't getting the shaft, that is gaming the system as much as the brokers.
Everyone else got real estate. A staggering amount of wealth has moved from people in Group 1 to the banks over the last decade.
2&2, let me understand your perspective here.
Let's say I purchase some property and lend it to you. After 3 years of paying me money, I get the property back. Yet I made a rational choice to lend to someone who couldn't afford it and I got screwed even though I didn't lose anything except potential money.
Is that right?
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