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Between cheap oil and cheap interest rates, oil was not the reason that home prices inflated. -- nm

Posted by Max Feb 10 '12, 10:14

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Responses:

[deleted] 25
- still, if you make a list of the 5 most important elements in the housing collapse and financial crisis, oil prices aren't in the top half of the list -- nm - Max Feb 10, 10:21 23
  - Poor lender practices, low interest rates, stagnant wages... that's 3. Got 2 more? -- nm - TWuG Feb 10, 10:26 3
    - I think wages weren't as stagnant before the economy fell, which coincided with the housing bubble bursting. so... *bzzt.* -- nm - the amanda nones Feb 10, 10:28 2
      - Wages for the middle class have been stagnant for 30 years. -- (link) - TWuG Feb 10, 10:30 1
        
        fair enough. I suppose contracting wages (real $) is what I mean. -- nm - the amanda nones Feb 10, 10:32
  - Go! -- nm - Dr.Vermin Feb 10, 10:22 18
    - Great asnwers, y'all... thanks! -- nm - Dr.Vermin gets his learn on. Feb 10, 10:31
    - 1) People wanted to buy bigger homes than they could afford, so they did - Roger More Feb 10, 10:28
    - cheap interest rates, poorly planned mortgages, excess leverage, asset-backed securitization, and money supply. -- nm - Max Feb 10, 10:25 14
      - cheap money and deregulation leading to a systemic underpricing of risk -- nm - znufrii Feb 10, 10:33
      - It was a... perfect cocktail storm of factors. *makes metaphory hands* -- nm - con_carne Feb 10, 10:27 7
        
        Unrelated but I never count the Perfect Storm in my top 20 films but I must have seen it ten times by now. -- nm - Loyola Feb 10, 10:28 6
        
        my libraries don't have this. I could watch it again. -- nm - the amanda nones Feb 10, 10:32 2
        
        In an odd coincidence, I saw this book at my library not 90 minutes ago. -- nm - ty97 Feb 10, 10:35 1
        
        I know. -- nm - Loyola Feb 10, 10:38
        
        Also, Poseidon was overlooked, but man did I enjoy that movie -- nm - con_carne Feb 10, 10:30
        
        I think that movie is scary as hell -- nm - con_carne Feb 10, 10:29 1
        
        Brilliant though. -- nm - Loyola Feb 10, 10:30
      - I'd argue that liar loans were top five. -- nm - the amanda nones Feb 10, 10:26 2
        
        I'm including those in poorly planned mortgages: buyers not calculating balloon payments or any margin of error, lenders not informing buyers, - Max Feb 10, 10:29 1
        
        you're free to live, then. -- nm - the amanda nones Feb 10, 10:30
      - and effing renters. -- nm - Max Feb 10, 10:25 1
        
        #1 -- nm - ty97 Feb 10, 10:26
    - Coffee prices are effed up, man -- nm - con_carne Feb 10, 10:23
- He's trying out his new board game "Policy Positions by Mad-Libs" -- nm - Will Hunting Feb 10, 10:16
word. -- nm - the amanda nones Feb 10, 10:14

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