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Easy credit and the illusion of easy money. In markets where appreciation was 20-30% per year, I think people felt they could just ride the wave. So what if it's expensive, I'll just buy with this ARM so I can afford the payments, then sell in a few years and make thousands! Unfortunately for them, those values were not sustainable. Everyone forgot about "buy low, sell high", they all hoped to buy high, sell higher.
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‘07 Mazda RX8
Past: 911T, 911SC, Carrera, 951s, 955, 996s, 987s, 986s, 997s, BMW 5x, C36, C63, XJR, S8, Maserati Coupe, GT500, etc
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