Yeah I guess your right. Forget about personal responsibility. It is not like these same people don’t go out and run up credit card debt or buy cars they can’t afford either.
I guess it is the responsibility of the Fed to make sure that idiots don’t buy things they cannot afford. Let’s tell the Fed to also tell China and other southeast asian countries to stop funding our debt and driving the bond market which is in reality what long term mortgages are driven by. Let’s blame everyone but the person who took out the loan. Obviously someone put a gun to his head.
Or maybe we should be novel and let the person who took out the loan loose his home, and let the lender who originated the loan get stuck with the house.
