Quote:
Originally Posted by sebastian_dangerfield
True. But I think we can agree, without it (or with one that phased out a lot earlier), we could not have had a bubble as bad the one we did.
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I'm not so sure. The key was really the quickly increasing prices, which meant no one was defaulting, thus making credit easier to get.
At least in DC, no small amount of the inventory was being purchased by people seeking to invest/flip who were not benefiting from MID.
But of course it makes owning all the more appealing.
