“From the banks who gave out crappy loans to the buyers who bought more than they could reasonably afford. Neither side is paying the price for these stupid transactions.”
I think a whole lot of buyers who bought more than they could reasonably afford would probably disagree with you. In San Diego alone foreclosures are still nearly 1,000 a month.
And notices of default are no fun either. I’m not really defending people that buy stuff they can’t afford. But I think its a leap to say that, as a whole, they aren’t suffering.
