Quote:
Originally Posted by MarchHare
The saddest part of the subprime mess is that even honest middle-class Americans were screwed by it. Many who weren't bad credit risks and continued to make their mortgage payments every month lost (or are losing) tens or hundreds of thousands because the home they purchased is now worth a fraction of what they paid for it.
I don't feel an ounce of sympathy for the greedy lenders who took such foolish risks. I don't feel an ounce of sympathy for the greedy borrowers who took out a mortgage that was way beyond their means. But I do feel a great amount of sympathy for people who, through absolutely no fault of their own, saw the value of their homes plummet because of the housing bubble created by the first two groups.
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like that one guy in the video with the big goatee. bought his house for $400,000 and now it's worth less than $200,000, and all from advice from his accountant to get tax breaks. that area is like the exact opposite of what happened in Calgary in the last few years, couldn't imagine living there and watching everything plummet around you