Ignorance of basic personal finance issues in America was a leading contributor to the housing crash and mortgage mess.
If I had a dime for every time I read "we didn't know what we were signing" or stories about people who trusted a realtor, or didn't know they had an exploding ARM, or who never took the P/E of housing into consideration, I'd be rich.
What complicated this ignorance is the army of commission-hungry conmen (aka 'real estate professionals' and 'mortgage brokers') all to eager to screw the clueless for their commissions. "Just sign here - real estate is ALWAYS your best investment! Home prices NEVER go down!". You know the drill.
So, a serious proposal HP'ers for you to do your thing. Let's see if we can get ABC to bring back Schoolhouse Rock to do a special "housing crash" edition. You can email them here.
And here's your copy/paste if you're lazy:
We would like you to bring back Schoolhouse Rock for a special edition on mortgages and homebuying. The financial ignorance of Americans when it comes to 'the most important financial decision of their lives' has led to serious consequences for our nation's economy (and even your advertising revenues). A little bit of education in the early years will help ensure that this type of Ponzi Scheme and sea of ignorance doesn't happen again in America.
Please bring back Schoolhouse Rock for a special "Houses and Mortgages" edition. The sooner the better.