One of my pet-peeves has been that you hear Republicans blame the housing crash on poor people who took out home loans they couldn't afford. This chart shows that at the same time the housing bubble was growing, then crashing, the commercial real estate (CRE) bubble was growing and crashing as well. And I don't think I've heard a lot about corporations and businesses that took on loans they couldn't afford, have you?
Read more from Paul Krugman here.
