ITD had excellent post and glad to see some of us can be objective.
Few things to add that people should understand:
The vast majority of subprime loans were written by banks not subject the the CRA.
The fact that nobody has listed credit default swaps in this discussion.
Sadly, the US has short-term memory and will do the exact same thing again.
I plan to be mortgage free in 5-6 years and stepping away from future train wrecks. And I'm not that old
