You have no way of knowing what percentage of homes belonged into what category. To learn this, you would have to convince the governments of the foreign countries to force the "Special Purpose Vehicles" Ben Bernanke referenced in his testimony to Barney Frank's committee to open their books for investigation. This has never been done.<quoted text>We all have heard your dumbass views on this matter many times. Problem is they don't explain why 90% of all home loans defaulted on in 2008 during the collapse had one major item in common. 90% of all the bad home loans were less than 5 years old. What happened 5 years prior to 2008 home loan crash?
President Bush Signs American Dream Downpayment Act of 2003
Bush at the signing::: "Last year I set a goal to add 5.5 million new homeowners in America by the end of the decade. That is an attainable goal; that is an essential goal.
We understand that buying a home for the first time is complicated, and we want to simplify the process.
Many first-time buyers look at the paperwork from a loan application, and frankly, get a little nervous about all the fine print. Those forms can be intimidating to the first-time home buyer. They can be intimidating to the second or third-time home buyer, too.(Laughter and applause.) So this administration has proposed new rules to simplify the forms home buyers and homeowners fill out when they apply for a loan or close on a mortgage".
So, just where are you getting your propaganda from?
(Laughter and applause)