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comment by winston
winston  ·  4861 days ago  ·  link  ·    ·  parent  ·  post: RSA Animate - Crises of Capitalism
I agree with much of what you write here but:
    While some many can claim they were burned in the recent housing crash, many of those were either poorly qualified for loans or had invested in "bubble" properties (or both!) While banks had a large role to play in this, everyone (including buyers) had their hands out.
While many people were over leveraged and some bought in to "bubble" properties, there are others that through nothing other than proximity to such people saw their home investments drop substantially. Couple this with the fact that many of these same people saw diminished earnings or even worse, job losses and the picture gets more complicated. While there is no doubt that the market tanked in large part due to irresponsiblities of lenders and loan recipients alike, there were also "responsible" consumers impacted.