Regarding risky mortgages and home foreclosures: The problem first lies with greedy builders who shove up the prices of homes to be barely affordable, in part by building huge fancy homes, when much smaller homes could be built and sold at a far less cost.
Think of it, a smaller home, large enough for your needs, but somewhere around half the price and half the monthly payment. The facts are not exact, but this gives one the idea of what is wrong and why we are now in a personal and national economic tailspin.
We are at blame as well, keeping up with the Joneses and allowing builders to manipulate us. If we did not buy the huge fancy homes, they would not build them. They do not move and build without profit; take the profit away and they build what you want or stop building.
Large homes are also not a wise use of our resources; larger homes consume more products, driving up the cost to build. We all lose again.
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DAVID LOUIS JOHNSON