"The mortgage industry built their entire business on ass-backwards, shit-kicking, dumb-fuck assumptions. The housing market couldn't just go up forever. Yes, that was part of their “models.” You just have to be alive for 15 years to know that these things cycle. People who said that real estate prices weren’t ever going to go down should be beaten over the head with piles and piles of foreclosed mortgages. Idiots."
-- Investment analyst Barry Ritholtz in Esquire.