“What Now?” Tells How Real Estate Mess Started

It all started way back in the 1970’s when the government determined home ownership should practically be a ‘right’. Jump to 2008 and you have a major problem with the banking system…

Jim Cosgrove of the Maine Coast Real Estate Blog has a very interesting summary of the events that led up to the Emergency Economic Stabilization  Act of 2008.

 

It all started way back in the 1970’s when the government determined home ownership should practically be a ‘right’.

 

That got Freddie Mac and Fanny Mae churning  and more and more building  which led to  more jobs, etc.

 

You  get the picture.

 

Read More  at What Now?

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