ST Alpha - "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" (Reading a Post)

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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

Posted by Max Feb 10 '12, 10:21

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Responses:

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

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