Ed Huntress wrote:

If you get your financial advice from a mortgage broker, I will tell
you that you are nuts.

Well, why don't you tell us who got it right, Dan? What crank do you listen
to who would have told you that there was going to be a subprime mortgage
crises, provoked by a mortgage industry that was giving out ridiculous
loans, with prices dropping and buyers pulling out because of credit was
tied up by a collapse of derivatives that were collateralized by bundles of
those subprime mortgages, rated AAA by S&P and Moody's, which every major
investment bank (except Goldman Sachs) was buying like candy and which was
supported by the most sophisticated and most successful financial network in
the history of mankind?

Are you going to tell us that YOU knew it, fer chrissake?

Well, I didn't know, but I sure had a bad feeling
in my gut, driving past thousands of new $500k
homes and wondering who the fsk was going to pay
for them.

Silicon Valley and the SF Bay area went through a
similar ordeal after the dot com bust. Mortgages
in San Jose were "under water" as opposed to "upside-
down". Same difference. Warehouse space was dirt
cheap after millions of square feet of tilt-ups were
raised anticipating the continued boom.