Thanks all for voting - here's the results and I have to say I agree almost down the line - I'd raise Appraisers higher though - the corruption and conflict of interest there is a major cause that will cause new legislation and oversight in the future - similar to the corrupt analysts during the NASDAQ bubble...
1. Greenspan 111 votes = 35%
2. Human Nature - Us 69 votes = 22%
3. Mortgage Lenders 55 votes = 17%
4. Investors/Flippers 35 votes = 11%
5. Fannie/Freddie 14 votes = 4%
6. Bush 9 votes = 3%
7. Realtors 6 votes = 2%
8. Appraisers 4 votes = 1%
9. Developers/Builders 3 votes = 1%
X. Other - 11 votes = 3%
December 04, 2005
Final Housing Panic poll numbers - Greenspan top cause of bubble, and we're #2
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4 comments:
Greenspan didn't cause the bubble. The policies he backed were a contributing factor but the real problem is ignorant investors. It's easy to get caught up in the hype of some people making huge money. This happens in every type of investment be it stocks, property, Star Wars figures, etc. When all the followers who want to jump on th winning team rush to join it, the whole team suffers.
Yes, American house buyer:
Ask not for whom the bell tolls, for it tolls for thee.
Greenspan - no way. People always want to blame someone else for their poor decisions. Greenspan didn't make a single sole choose to be a flipper or buy more house than they could afford or take a zero ammortization loan. This is all the result of the human emotion - fear and greed.
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