Blame

I’ve been speaking to clients and others a lot about how we got into this mess, a topic that is too big for today, but I am a little frustrated by a particular theme I keep hearing.  The housing bubble was NOT caused by the Clinton administration’s attempt to get more lower-income people into housing.  The damage from the bursting of the housing bubble was done in higher-end housing, not lower-end.  It is the evaporation of wealth in the middle and upper classes that is rippling through our economy.

This topic is covered well here and here.

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