Obama Is on the Brink of a Settlement With the Big Banks—and Progressives Are Furious

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103. Yes, homes can lose value. Many factors actually play a role in the value of a home.

But I can look to my grandparents’ homes purchased in the early 1900’s, my parent’s home purchased in the 1950’s and my own home purchased in 1980 and see that in my own family, all homes increased in value across a century. My own son purchased a home in 2004 and even in this economy; the home has risen slightly in value which baffles me.

This wasn’t a lie to me until mortgage securitization drove the market. That’s where the lie kicked in. I knew there was a bubble. I knew there were forces at work in the market and at least now I better understand those forces.

No one was looking out for homeowners. They were too trusting and the government failed them. What distresses me is that government is likely to continue to support the banksters at the expense of homeowners and taxpayers.