The Subprime Lending Crisis Is a Capitalist Solution

In good times and bad, there's going to be some percent of the population for whom it simply doesn't pay to build housing. And you can maybe think about the subprime lending crisis as a sort of, you know, a capitalist non-solution. The capitalist solution instead of building social housing was to make loans to people without incomes. There you get a bubble, not because we're really building more houses than people need, but we're building more homes than people can afford. That's a problem about income distribution and a problem about social control of investment.