Dad2three
Gold Member
We already been over this, agreed 10 years ago things were going along pretty good until Federal meddling policies crashed housing?
RINO=DemWit=at fault. there, we agree.
I can't agree more GOVT spending/debt will get USA out of debt.
"We already been over this, agreed 10 years ago things were going along pretty good until Federal meddling policies crashed housing?"
You mean Dubya's REGULATOR FAILURE allowed the Banksters to hose US And Dubya and his policies housed Fannie/Freddie right?
Examining the big lie: How the facts of the economic crisis stack up
The boom and bust was global. Proponents of the Big Lie ignore the worldwide nature of the housing boom and bust.
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The housing boom and bust was global — Source: McKinsey Quarterly
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A McKinsey Global Institute report noted “from 2000 through 2007, a remarkable run-up in global home prices occurred.” It is highly unlikely that a simultaneous boom and bust everywhere else in the world was caused by one set of factors (ultra-low rates, securitized AAA-rated subprime, derivatives) but had a different set of causes in the United States. Indeed, this might be the biggest obstacle to pushing the false narrative.
Nonbank mortgage underwriting exploded from 2001 to 2007, along with the private label securitization market, which eclipsed Fannie and Freddie during the boom.
Private lenders not subject to congressional regulations collapsed lending standards. Taking up that extra share were nonbanks selling mortgages elsewhere, not to the GSEs. Conforming mortgages had rules that were less profitable than the newfangled loans. Private securitizers — competitors of Fannie and Freddie — grew from 10 percent of the market in 2002 to nearly 40 percent in 2006. As a percentage of all mortgage-backed securities, private securitization grew from 23 percent in 2003 to 56 percent in 2006