The benefits of "irresponsible" lending

Before we heap all our disgust at greedy subprime lenders and their desire to “get” people, lets take a look at the other side:

‘Irresponsible’ Mortgages Have Opened Doors to Many of the Excluded – New York Times: “As Professor Rosen explains, “The main thing that innovations in the mortgage market have done over the past 30 years is to let in the excluded: the young, the discriminated against, the people without a lot of money in the bank to use for a down payment.””

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