Some people bought houses they couldn't afford because they were betting on a quick sale at an appreciated value to bail them out (and for a while they got away

Some people bought houses they couldn't afford because they were betting on a quick sale at an appreciated value to bail them out (and for a while they got away with it). But some people literally didn't understand that their mortgage payments were going to skyrocket after the "teaser" rate expired in a few years, nor that the fast-talking broker actually expected them to default but had perverse incentives to offer them a stupid deal anyway.