Buying a house

If you have never been so stressed out that you wanted to jump into an icy river to relax, try buying a home. About half of the people I know own their own home, and to look at them, you'd only see normal people. But lurking underneath that facade of calm composure, there exists a deep well of what some call "experience." (That is just a fancy word for saying, they have made lots of mistakes.) I never imagine buying a home would be so complicated or so expensive. A few months ago when the US was in meltdown mode because a few billion dollars were lost in bad mortgages, I thought, "how could those people have ever dreamed of borrowing so much money under such terrible terms, and why would a lender loan those people so much money in such a sly way when the reality was that they wouldn't be able to afford their loan?" Now I look at it with open eyes. Here are my reasons why lenders and borrowers are in trouble.
1. Borrowers are brainwashed into the need to own a home.
2. The nitty-gritty of a home mortgage quite confusing.
3. The realtors, loan originators, brokers, appraisers, and anyone I haven't though of, all make money at the time of transaction; they aren't in it for the "long-haul." Once they have their money, they are gone.
4. Money in the financial world is relative. They talk in numbers, not dollars.
5. Real estate was one of the last places people can find money for nothing.

There are four ways to get money. First people look to get money by producing or manufacturing something (or owning an asset that producing something.) Second, they look to get money as a reward for brokering/producing a transaction (i.e. sales.) Third, they get money by borrowing it. And fourth, they let others borrow money for a price. In the US, we got tired of producing things, are getting beat by others at brokering deals, ran out of money for others to borrow, and now we are the borrowers. Ahh... the new American dream.