The graph is somewhat misleading because in the 1990's everyone could get a real estate loan. Even without a job!
People were buying properties and selling them 2 years later at a profit.
This was the roots of the real estate bubble and the mortgage crises.
It was easy to move out. Everyone was buying stuff on credit and we were quietly going more and more into debt.
Many people I know were buying condos for their children.
Then, the bubble burst and recession hit.
The 1990's were a facade, things could not go on like that forever.
Getting a loan with no job, buying property and then selling it for a profit.
It was an artificial "bump and dump" scheme.
It lead to the government having to bail out the banks.
People were buying properties and selling them 2 years later at a profit.
This was the roots of the real estate bubble and the mortgage crises.
It was easy to move out. Everyone was buying stuff on credit and we were quietly going more and more into debt.
Many people I know were buying condos for their children.
Then, the bubble burst and recession hit.
The 1990's were a facade, things could not go on like that forever.
Getting a loan with no job, buying property and then selling it for a profit.
It was an artificial "bump and dump" scheme.
It lead to the government having to bail out the banks.