LETTER: The housing crisis and repeating history
It seems that the lessons learned after the “Great Recession” in 2007 have been erased from the memory. The primary cause of the crash was the issuance of subprime loans to people who could not repay them, which led to homeowners defaulting en masse. Kamala Harris has proposed giving $25,000 to first-time home-buyers. I have no financial expertise, but I’m surprised that I haven’t heard of anyone questioning the similarity to 2007.
