It’s been so annoying to hear the right wing talkers blaming the victims – whether complicit or not, they were victims – of the sub prime meltdown. You’ve heard all the yak yak yak. These people had no right to take out these loans. These people are irresponsible – they’re destroying our economy. They thought they could have it all and have those big houses. And on and on.
Well, guess what. According to McClatchy today:
WASHINGTON — Aftershocks from the nation’s financial crisis continue rumbling through the housing sector as fixed-rate mortgages held by the safest borrowers accounted for nearly 37 percent of new foreclosures during the first three months of this year, the Mortgage Bankers Association reported Wednesday.
Well, that makes me feel better.