“Just when consumers and the U.S. economy need banks to lend more freely, the mortgage industry is making it harder to borrow”. – Alan Zibel and J.W. Elphinstone
“Just when the entire world economy needed banks to stop lending money to anyone with a pulse, they found new and ‘innovative’ ways to lend money to groups never before able to purchase a home.”
– Anyone with a brain in 2004-05
Banks may also realize that $100,000 lent today at 5%, is going to be worth $75,000 in 5 years thanks to +10% inflation.