It absolutely contributed to the housing bubble, but you’re misunderstanding the incentives: companies loaned to people who couldn’t pay not because of housing policy, but because there was massive market demand for the product. https://twitter.com/ALambertarian/status/1040373206178312193 …
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Countrywide told me and my wife in 2006 that we qualified for a $1 million mortgage. At the time, we were making a combined $70,000 a year. that’s when I knew they were cooked.
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....because they anticipated their scam falling apart? And *then* they expected Latinos to be good security risks on the debt they were left holding? Opposite of reasonable.
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