POTUS May Be Right About Real Estate

I don't know what the best alternatives would be, but we sure don't need anymore sub prime climates
abounding.
I was approaching sixty, living in the hood, and I had very young white guys knocking on the door.
They wanted to see the property.  If I would just borrow several thousand dollars, and give them a big
chunk of it, they would see I walked away with a little too.  All I had to do was agree that in a few years I'd be able to afford a huge mortgage payment!
So, was I getting any younger, or what?
Was I going back to working five jobs?
Was I about to obtain a Ph.D. in computer engineering? Biophysics? Applied Mathematics?
Was I sure of hitting the lottery?
Sometimes I'd have to repeat myself over and over..."No, if all goes as it has been going, which I have to assume sir, I may have less income, not more, a few years from now."
When I actually needed to remortgage, I had to search high and low for a thirty year fixed.
I still haven't figured out the urgency. Was it all a playful scheme to them?
Very young white guys were driving up in Chrysler 300s, and I kept saying to myself- "I hope these
guys are also investing in an education, or saving- because they have to know this won't last.
One of them said to me at a closing: "I bet you've done this a thousand times before."
I couldn't understand what he meant. I had only done it once before, and was asking a lot of questions because I was only doing it this time to get a better interest rate, ergo a smaller payment.
My payment lessened by nearly $100 per month.  I was puzzled, but didn't know the industry was
about to explode.
I feel terrible for the people who were making so much money redoing these loans.
I feel terrible for the people  with children who bought nice houses in established neighborhoods, but
moved out right away because they woke up one morning to see they lived in ghost towns.
I feel awful for the lady whose two year old wandered next door to drown because his mom  didn't know her neighbor had moved suddenly, embarrassed about losing her house, without draining the pool.
Fine print...
Balloons...
Lax proofs of income...
It all turned out to be a nightmare.
It rained on the just, as well as the unjust.
So then- it was biblical.
When POTUS says invest in a good rental, he may be exactly right. Too bad for the housing
market if that continues to be the best living circumstance for young families.