but… there were a substantial number of unqualified mortgages issued on the grounds that the debt would be sold immediately. Its not completely the fault of the debtor, but living within your means and responsibly is something that affects everyone.
Yea, you can’t rest the blame entirely on the shoulders of the poor. You can’t rest the blame entirely on the shoulders of ANY one group; unless you’re counting “humanity.”
That being said, the people who bought a home they clearly couldn’t afford ARE a major piece of the puzzle. Simply put, there are a lot of poor people who brought it on themselves. I spent half a decade in a cramped one bedroom apartment that was an absolute embarrassment. I now live in a much larger two bedroom. I don’t prefer sharing walls or not having my own washer & dryer; I’m just smart enough to not take out a mega-loan for big house I clearly can’t afford just because I can. And no, “I thought I could flip it!” Is not an excuse.
If you gamble with more money than you can afford to lose, the consequences when you DO lose are entirely your own fault.
but… there were a substantial number of unqualified mortgages issued on the grounds that the debt would be sold immediately. Its not completely the fault of the debtor, but living within your means and responsibly is something that affects everyone.
Yea, you can’t rest the blame entirely on the shoulders of the poor. You can’t rest the blame entirely on the shoulders of ANY one group; unless you’re counting “humanity.”
That being said, the people who bought a home they clearly couldn’t afford ARE a major piece of the puzzle. Simply put, there are a lot of poor people who brought it on themselves. I spent half a decade in a cramped one bedroom apartment that was an absolute embarrassment. I now live in a much larger two bedroom. I don’t prefer sharing walls or not having my own washer & dryer; I’m just smart enough to not take out a mega-loan for big house I clearly can’t afford just because I can. And no, “I thought I could flip it!” Is not an excuse.
If you gamble with more money than you can afford to lose, the consequences when you DO lose are entirely your own fault.