The low end crashed quickly because it should have. As you said it had no buffer. It increased by a much higher percentage. This isnt a war on on the working class. These loans were made to people who could not pay them off if they were at 0% interest. They could only work with increasing property values. These loans had to be cleared out asap because there was no hope for them.

In the mid and upper ranges, there were plenty of bad loans made overextending borrowers but most were to people with real jobs, incomes and assets. Again this isnt a plan to support the rich at the expense of the poor or any kind of economic class warfare. Some of these loans weren’t made to people with long term real jobs and most of those seem to have been resolved quickly. I used to track all the foreclosure data around me and every week it was full of realtors/mortgage people whose income disappeared. These should have been wiped out quickly and they were. The others have stuck around much better and will continue to resolve themselves because there is a way to save them.

I never said it was fixed nor do I beleive it’s over but they are winning the war and I beleive they will win it. The worst has passed already.