Egregoros

@Ash_Kvetchum @grey In the 90s Bill Clinton got elected president on the promise of everyone being able to afford a house. However, this required extending credit to people who couldn't actually qualify for mortgages. To solve this, Clinton told the banks that the government through Fannie Mae and Freddie Mac would guarantee those mortgages. To banks this was a great deal because you could expand your assets (mortgages) while being confident that you would get paid at the end by the US government whether the borrowers were actually solvent or not. The subprime mortgages that came out of this arrangement found their way into the derivatives market, specifically the Collateralized Debt Obligation where subprime debt got mixed into prime debt and nobody could accurately access how risky those investments were anymore. Time passes, and suddenly Fannie Mae and Freddie Mac need to be saved because they can't afford to guarantee the mortgages they helped put out because so many started to fail all at once. And because mortgage-back securities made their way through the financial markets it caused a system cascade were securities rapidly dropped in value and caused further meltdowns.

@Ash_Kvetchum Basically, oceans of subprime mortgages were given to niggers with no oversight. The Jews then took this debt and it was packaged into products called CDOs that were sliced up and billed as "safe" and then sold to their clients basically as bonds. They would also bet against the same products that they were selling using credit default swaps on these nigger mortgage loans. Once home prices crashed, all these collateralized debt products imploded causing a chain reaction. The Jews were bailed out by the government, because of course they were. The niggers continued being niggers.

tl;dr jews & niggers

There were laws in the 1980's about fighting racism in housing because the gi bill mostly gave white boomers free housing and college in the 1940's but the solution was everyone gets free houses and college. (without the black marxists pushing this trying to increase supply)

NIxion took us off the gold standard, and this idea of houses as investments had taken root. creative ways to reduce supply and "increase affordablity" at the same time were flying around.

30 years later, new buyers were needed; unsustainable fake luxury houses were in the mix.

You can debate for hours about the exact path the money took, but the reducing supply but "increase affordability" is the same grift as elsewhere. Paper isnt real while supply and demand is.