Long Island

Content Preview

Newsday/Optimum Online® subscribers click here for full access
Not a Newsday or Optimum Online® subscriber? Click here

Why the housing dream died hard

Greed was good . . . at least until home prices started falling.

The collapse of the mortgage market this summer largely stems from the actions of Wall Street bankers, mortgage brokers and homeowners who chased the red-hot housing market for much of this decade, observers say.

What began as an enticing investment opportunity now has become a credit crisis, which has unnerved Wall Street...

newsday.com is now available at no charge to Newsday and Optimum Online® subscribers. To continue reading, please log in or register now.

  • Already
    registered on
    newsday.com?
    log in
  • Already a subscriber
    to Newsday or
    Optimum Online®?
    get access
  • Not a Newsday
    or Optimum Online®
    subscriber?
    click here

Photos and videos