So you think it's the realtors job to tell people what is or isn't in their best interest? Please. You're holding realtors to a higher standard than any other profession, they're not your real estate adviser, they're realtors, the average home buyer knows the realtor's interests do not align with the buyers.
|We had a financial crisis because everyone thought housing would only go up placed huge bets on that hypothesis.
I blame regulators and financial institutions for not doing their jobs, not the average home buyer or realtor.
|The crisis was caused by people at all steps of the chain believing that housing will only go up.
And yet no one has gone to jail or been prosecuted in any meaningful way.
So you think it's the realtors job to tell people what is or isn't in their best interest?
No. Similarly, I don't think it's the job of a mortgage packager to do anything other than package mortgages and move them on.
Keep in mind, I'm not the one advocating sending assorted politically unpopular middlemen to jail.
And yet no one has gone to jail or been prosecuted in any meaningful way.
That's because the housing bubble was not the result of a crime. A few crimes were committed, sure - it's hard for trillions of dollars to move around without a few people stealing some of it. But the main culprits of the bubble didn't do anything criminally wrong. They just collectively made bad bets in the same direction.
Sorry, but there just isn't a villain behind every bad event.
[edit: added emphasis in second to last paragraph. Apparently some people are not seeing that sentence.]
|We had a financial crisis because everyone thought housing would only go up placed huge bets on that hypothesis.
I blame regulators and financial institutions for not doing their jobs, not the average home buyer or realtor.
|The crisis was caused by people at all steps of the chain believing that housing will only go up.
And yet no one has gone to jail or been prosecuted in any meaningful way.