Quote:
Originally Posted by MarchHare
Can you provide citations to show that this actually happened? Obviously many people (poor and middle class alike) were buying homes beyond their means during the housing bubble, but I think your example is more than slightly hyperbolic. Even the greediest, most short-sighted subprime lender is not going to give a $1.5M mortgage to a family with a $40k household income.
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I took it as hyperbole but the idea that buyers and their mortgage team would find a way to get someone into a house at whatever cost with little regard for the consequences ring true.