Millennials Might Be The Only Thing Preventing Another Mortgage Crisis

UPROXX |

The Great Recession was an enormous disaster, and nobody wants a repeat of it. And, yet, we’re perched on precisely that precipice. Because for some reason, the pieces of the crisis are being allowed to reform themselves. And the only thing stopping it from all happening again? Millennials are smarter, and, well, broker than people buying houses in the mid-2000s. To understand the problem, you need to grasp what happened with the mortgage crisis in 2007. Ream after ream of subprime mortgages were issued, thanks to a low federal funds rate. Essentially, banks didn’t have to charge each…


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