The people really responsible for the housing boom and bust might just be those very type of people that attended a real estate or wealth building (i.e. “get rich quick”) seminar and decided that this is the way forward. [Minneapolis Star Part 1], [Minneapolis Star Part 2]
On his website, John T. Reed publishes a long list of some of the “no-money down” “cashback at closing” “other people’s money” etc. “real estate guru’s” (is “guru” an official title? can you get a diploma that actually says that from an accredited school?), some of whom might bear an awful lot of the responsibility for setting the fliptards and investards free amongst the mortgage brokers and realtards (who were in turn enabled by lenders and their “new paradigm”). Vince Lombardi couldn’t have designed a better play.
At any rate, You know who you are.
“If you look around for a sucker and can’t figure out who it is, then in fact the sucker is you.” -Anonymous