Silly Americans - you thought those skyrocketing housing prices were because "they're not making any more land", or because of "year-round-golf and pro athletes".
Nope. It was just one big orgy of fraud. And you fell for it.
Here's just a sampling of headlines today over at the mortage fraud blog. Just a sampling.
Florida woman sentenced in fraud scheme
Florida mortgage fraud laws passed
Valley (CA) man indicted in HELOC fraud allegation
Concord (CA) lender indicted
Tampa man provided false employment references
California man given 16 months in deed fraud
Three Ohio men indicted in Kentucky fraud case
Man indicted in Ohio apartment fraud charges
Two plead guilty in Pittsburg area mortgage fraud
Texas realtor sentenced to 18 months
New Jersey man pleads guilty to mortgage fraud
5 sentenced in Georgia mortgage fraud scheme
Two plead guilty in $35 million fraud in Minnesota