I'm not trying to blame the consumer. A lot of people were taken
advantage of when buying homes and all that.

My wife and I bought our first home in November at a Fixed rate. We're
not financial geniuses, but we know enough not to get into something
that doesn't make sense.

But apparently a LOT of people bought homes with adjustable rate
mortgages. I mean, when I was in my early twenties, one of the first
things I was taught was you NEVER buy adjustable rate. It's the worst
thing you could do was all I ever heard.

I know there's a lot of shady dealings on wall street, and while they
take 99%% of the blame, along with government not regulating, i would
think 1%% belongs to the stupid people that bought those 1500 sq ft new
construction homes or adjustable rate mortgages.