Did Generation X Cause the Housing Crisis?

[thoughtomator]

Generation X was the first to receive the full-court press of Marxism in the education industry and prison schools.

[TheGrinchWhoStoleDC]

Years later and they're still trying to convince us that something else besides bank's risky loans (who'd had the risk removed and been directed to by government) wasn't the primary driver.

There's a difference between a layperson not realizing that a loan is beyond their means, and the predatory lender who KNOWS it's beyond their means.

There's also a gigantic problem when only one of these groups had to pay the consequences for their actions, while the ones really responsible are "too big to fail" and get a bailout.

[John F Kennedy III]

+rep

The housing crisis was caused by the Elite banks and the Globalists who own them.

Rothschilds, Rockefellers, etc.

[Romulus]

I still blame the boomers for everything.

[heavenlyboy34]

I still blame the boomers for everything.

The most evil generation in recent history.

[ninepointfive]

ohh yeah, it's somehow their fault? what kind of BS is this rag spewing?

It's all due to timing.

At least I had a career before this economy fell out, and I had some job experience to bank on for a new job. At this point a lot of people are out of college and stagnating. It's all timing, and washington to blame for this.

[Steven Douglas]

It's all timing, and washington to blame for this.

Yep, but even with all the best intentions in the world, the entire system was designed to implode. So it's like trying to time the volatility of sweaty dynamite, or the collision of a runaway monetary train that was designed only to accelerate, the brakes of which are of little to no use once it gains enough momentum.

I don't blame those who exploited the system along the way nearly as much as I do those who designed it--especially those who deliberately chained all the exit doors so that it could "work properly".

Who was responsible for the deaths of two thirds of the passengers aboard the Titanic? Was it the captain who ordered more speed? The watchman who didn't see the iceberg in time? Was it the one third of the passengers who did manage to get into lifeboats? Ultimately the blame lies directly at the feet of those who made deliberate policy decisions not to have enough lifeboats in the first place, given the hubris of shipbuilders of that time, and their "every ship should be its own lifeboat" Too Well Built To Sink mentality.

It's all systemic, having morphed and evolved over more than a hundred years, as people just can't resist thoughts of perpetual motion, money for nothing and chicks for free. I blame everyone who thinks that having all eggs collectivized and put into one basket is such a good idea that all other options are deliberately cut off. I blame every...single...one of them.

[Occam's Banana]

The housing crisis resulted in a great deal of finger pointing. Politicians blamed Wall Street, Wall Street blamed government, and each political party blamed the other political party. What gets lost in the drama of political theater is that real people signed mortgages that could not be afforded. Somewhere in the buck-passing, we are left to wonder what happened and how financial consumers can avoid future foreclosure catastrophes.

At first, I was like: "Hmmmm. There's no mention of the Federal Reserve as a source of the problem. They suggest politicians, Wall Street, government, political parties, and 'real people' as possible culprits - but not a word about the Fed ..."

A paper published by the St. Louis Fed, titled "The Foreclosure Crisis in 2008: Predatory Lending or Household Overreaching?" gives us an idea [that] Generation X was Most to Blame. [...]

And then, I was like: "Ahhhh, OK. I see ..."

[thequietkid10]

I hate these "blame this generation" or "this generation will save us" articles.

You can blame the Gen Xers for the housing crisis, you can certainly blame the Baby Boomers (in part due to their massive size) for the massive debt, you can blame my generation for being young, liberal, and dependent.

But ultimately these articles are designed to make one group feel better (or less bad) about their place in society, when the focus should be on the underlying policies, ideologies, and ignorance of the population at large.

[stu2002]

I hate these "blame this generation" or "this generation will save us" articles.

You can blame the Gen Xers for the housing crisis, you can certainly blame the Baby Boomers (in part due to their massive size) for the massive debt, you can blame my generation for being young, liberal, and dependent.

But ultimately these articles are designed to make one group feel better (or less bad) about their place in society, when the focus should be on the underlying policies, ideologies, and ignorance of the population at large.

Me too

Also sick of this "immigrants will save Social Security" sh*t