Wednesday, September 12, 2007

Sign of the Times

Ready for a sign of the times?

My twenty-year old brother who can't remember to brush his teeth or do laundry at least once a month wanted to know how hard it was to buy a house. Mind you, Joshua and I just moved him into his first apartment this last weekend. He's never really been on his own before, no lease, no utilities in his name and he's never had a credit card but he figures it should be no biggy to buy a house.

If the sub-prime lending industry crash was any indication of the loan industry's ability to judge who can purchase and maintain a home then perhaps we have much to learn before we go through another economic housing crisis.

People: be scared. Be very afraid.

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