When someone says “a decade ago” they aren’t referring to the late 1990s – they mean the mid-2000s.
That alone should be a shot in your coffee. But it’s hard to realize just how much has changed since then. Especially in the world of housing and housing finance.
That is, unless you stop to think about what you almost never see since the housing crisis.
1) Hagiographies of Alan Greenspan
2) Reality shows with the word “Flip” in the title
3) Ninja loans
(You never see ninjas anyway)
4) Countrywide, Lehman Brothers
5) SIVs, PIKs, Cov-lites