Conservatives who don’t know their you-know-what from a hole in the ground love to try and pin the real estate collapse on the CRA because it points the finger at their second favorite bogeyman, the poor and minority. (Their favorite is the muslim.) They won’t accept that it was the private market and Wall Street that caused themeltdown because they worship at the altar of wealth and the private sector.
Then how will the conservative slugs explain the collapsing commercial real estate market? Did the CRA force banks to loan money to rich developers to build malls and office buildings we didn’t need? Did Barney Frank’s pot-smoking boyfriend cause it? Was it sunspots? FDR? Carter?
3 signs of the next real estate collapse
Maybe Carrick would like to weigh in on this since he’s an expert on, well, everything it seems.