The founder of Habitat for Humanity Millard Fuller blames the mortgage crisis on people who spend more than they can afford.
"What we have got to do is get back to the basics in difficult economic times like this and explain to people that you will not wither up and die if you don't have that wide-screen TV," Fuller says.
Fuller also blames lenders who set adjustable-rate mortgages it knew buyers couldn’t afford to pay. He says such firms should be “ashamed” to make such arrangements with buyers. “What they were doing was irresponsible,” he says.
Source: The Associated Press, Jon Gambrell (09/11/2008)
This article is from Realtor Magazine Online Edition Daily Real Estate News for 9/11/08
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