How about the reality that regulation caused a lot of the problems?
Start with Fannie Mae and Freddie Mac. Ask whether anyone would be willing to make NINJa loans without a govt guarantee. And, if someone made such loans, ask whether anyone would buy them.
US Govt policy pretty much guaranteed that the mortage industry would take a huge fall. Even now, it's trying to keep people in houses that they can't afford. And, the money is coming from folks who bought what they could afford or rented because they couldn't afford to buy.
Such a firm connection to reality.
How about the reality that regulation caused a lot of the problems?
Start with Fannie Mae and Freddie Mac. Ask whether anyone would be willing to make NINJa loans without a govt guarantee. And, if someone made such loans, ask whether anyone would buy them.
US Govt policy pretty much guaranteed that the mortage industry would take a huge fall. Even now, it's trying to keep people in houses that they can't afford. And, the money is coming from folks who bought what they could afford or rented because they couldn't afford to buy.