63. Peter Atwater: The Confidence Map
Investing Unscripted
Observations on the Housing Market Before the Crisis
Before the financial crisis, there was stupidity on steroids in the lending industry. People were getting loans without scrutiny, even without jobs or income. The belief that home prices only go up led to a social vortex where everyone had to participate. Television shows like Flip that House and Cribs fueled the frenzy. We were all to blame for the dramatic and widespread consequences.
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