Quote:
Originally Posted by flamesfever
People were panicking...money was flying out of the country, and jobs were disappearing. Many of the houses, that sold for a dollar, were actually worth close to the equity value in the house. And when you consider that worse come to worse, you could always walk away from the mortgage, your overall liability was negligeable.
You can sit here and debate about how much you know about the situation in the 80s, but you have to live through it to imagine just how ludicrous the situation really was.
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All of that can be true and still no one was actually buying a house for $1.00. It just never happened.