Baltimoresun – How did we get into this foreclosure mess?

March 31, 2008

How did we get into this foreclosure mess?
“I have lived through three foreclosure crises, although I missed the big one during the Depression, when in 1933 the country was facing 1,000 foreclosures a day. In the 1980s, the problem was fed by the savings and loan scandals; in the late 1990s, the scourge known as “flipping” was to blame. The present crisis is the result, in great part, of the explosion of subprime mortgages….” http://www.baltimoresun.com/news/opinion/oped/bal-op.foreclosures30mar30,0,4693643.story

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