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Comment: Re:The American Dream (Score 1) 570 570

by AmazingRuss (#47566233) Attached to: 35% of American Adults Have Debt 'In Collections'

That's exactly why another price collapse is on the way. The market has run out of people who can just barely afford these prices, and is once again pulling in people who just can't afford these houses, but get government backed loans anyway.

The result will be the same as last time, a major price crash, the people that could afford it get fucked on equity, the people that couldn't afford it get fucked out of their down payment, and the taxpayers get fucked when all those loans the government holds go tits up.

Who does the fucking you might ask? The banking system, which gets truckloads of risk free money off the whole affair.

Gravity brings me down.

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