Inevitable Outcome of Housing-Market Greed
“Risky ‘Exotic’ Loans Fostering a Refi Cycle” (Oct. 10) illustrates how fragile this house-of-cards housing market has become.
The cycle is being driven by greed from investors and greed from the mortgage industry.
As with a balloon enduring ever-increasing pressure from within, the outcome should be no surprise.
Michael J. Reardon
Chino Hills
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