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January 22, 2021 1:22 PM
Natalie Campisi - Forbes Advisor
Posted:
Updated:
January 25, 2021 6:18 AM
President Joe Biden is no stranger to severe housing problems. When he became vice president in 2009 under the Obama administration, he inherited a massive subprime mortgage crisis that caused millions of people to lose their homes through foreclosure while trillions of dollars of equity disappeared.
The housing crisis was the country’s worst piñata, filled with sloppy and predatory lending, expensive adjustable-rate mortgages, an oversupply of housing and lack of government oversight. And when it was finally split open, it exposed a rotten system that needed an overhaul. ....

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