Quote:
Originally Posted by JPhillips
Wade: I think you're only partly right. Having just left the DC area after shopping for a house, I think some of the sub-prime mess comes from people who can't afford a traditional mortgage payment. When houses are costing 300K or more it's difficult for families making less than say 80K to make a full payment on a thirty year fixed.
Now I think greed, stupid decisions, etc. inflated the cost of homes, but the fact remains that a lot of families really didn't have another option.
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I forgot you left the DC area..
Anyway... we'd probably disagree here on what "didn't have another option" means.. I understand what you're saying, I think I'd disagree with some of your definitions though.