[quote=scaredycat]chicken and egg. there wouldn’t be a buyer without a mortgage. least not at the dumb price possible with amortgage. the bank sts it all in motion by making the money available.

kinda like drugs. the bank is the dealer, the homedweller is the druggie. yeah, there wouldn’t be any drug trade without eager users, but ya gotta have a salesman and there is definitely nothing happening without asteady supply of drugs. i’d say the prime mover in the drug example is the drug dealer, adn i’d say the prime mover in real estate is the finance. it’s all about access to big piles of money, rights?
[/quote]

Ok, so you’re in the camp of the folks who sue McDonalds because they’re fat, right? “I’m weak! I can’t resist those tasty Big Macs. That special sauce is just too special!! Make them stop!!”

And how have YOU managed to avoid the drugs (money) that the dealers (lenders) have been peddling? Are you that much smarter than everyone else? I doubt it. I assume you’re somewhat sensible and responsible. The folks who availed themselves of the financing and bought at inflated prices with little money down were neither sensible nor responsible. And neither were the banks that lent money to them. But if more folks had acted like you – scaredycat – and me, we wouldn’t be in the mess we’re in today.

So, it’s ironic that you defend the “demand” side of this equation, when clearly you’ve been successful at resisting the available supply… despite all of the tasty cheeseburgers (loans) available to fatten you up.