patrick.net

http://www.bloombergview.com/articles/2015-09-14/turns-out-the-housing-crisis-wasn-t-all-about-subprime

When we talk about the past decade's housing crisis, it's natural to talk about subprime loans. Subprime loans give us a convenient, conventional story: predatory lenders charging people unconscionable interest rates, forcing innocent people into foreclosure and the rest of us into the worst financial crisis since the Great Depression. There is only one small problem with this story, which is that lots of prime borrowers defaulted too.

#housing