NOOR: So, Bill, you recently said the following two sentences from - TopicsExpress



          

NOOR: So, Bill, you recently said the following two sentences from the Financial Crisis Inquiry Commission explain the entire housing crash. From 2000 to 2007, appraisers ultimately delivered to Washington officials a petition signed by 11,000 appraisers. It charged that lenders were pressuring appraisers to place artificially high prices on properties. According to the petition, lenders were blacklisting honest appraisers and instead assigning business only to appraisers who would hit the desired price targets. Bill, I want to ask you: the housing bubble has often been depicted as a consequence of investor frenzy and crowd psychology, and thus no one group or institution is responsible for rising prices. What is your response?
Posted on: Sat, 20 Jul 2013 23:20:34 +0000

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