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News Link • Housing

Subprime Loans Are Back, Proving We Have Learned Nothing from 2008

• https://fee.org, Brittany Hunter

For as often as the phrase "history repeats itself" is used, it's shocking how rare it is for mankind to actually learn from its mistakes. This year marks a decade since the housing crisis rocked the American economy to its core. Its implications were so far-reaching, many are still recovering from the devastation today, making it all the more frustrating that few seem to have learned any sort of lesson from the not-so-distant collapse.

Over the last several weekends, the nonprofit, Boston-based brokerage Neighborhood Assistance Corporation of America (NACA) partnered with big banks and hosted events all across the country, attracting tens of thousands of attendees. These events are meant to help people apply for subprime home loans. If the term "subprime" does not immediately jump out at you, it should. "Subprime" mortgages were a primary culprit of the 2008 financial crisis.

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