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Originally Posted by sebastian_dangerfield
"They all knew" is not revisionist horseshit. Everybody knew. Everybody in the country knew the housing market was a bubble.
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If this was true, there would have been no market for all the mortgaged backed products the banks were turning out. There was a huge market for them. You're confusing what you believed, confirmed in hindsight, with what everyone believed.
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I bought a house in a fancy suburb in 2004. I recall the frenzy of sales and refis in the neighborhood, and being a fucking skeptic about everything
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All your neighbors knew...
