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And a mortgage broker taking a hefty fee.

• vlad 18y ago
  He also mentions that part of the reason the housing bubble helped mask/stop a recovery from the 2001 crash was because unemployment in many sectors went back down, but that was due to a huge economy of realtors, banks, and brokers coming out of nowhere. Thinking back, I have to agree--I used to see 3 real estate or realtor ads on every page in some of the local papers, but not any more. It makes sense that realtors made a lot of money, and so did newspapers, so a lot of jobs were created for that short period of time (more realtors, and more journalists, who of course reported about the great benefits of owning real estate.)