Used-Home Salesmen

Some very interesting quotes today in an LA Times piece on Inland Empire realtors trying to survive the housing bust (by preying on the same people they got into crazy loans), and insight into how the bust came about. Realtors over the past 5 years have made used-car salesmen look like saints. Here's just a couple of gems...

During the four-year boom that ended last summer, Home Center expanded from 15 agents to 80 in three offices. The roster of agents has since sunk to 52, only about half of whom are active."The rest are looking for side jobs at McDonald's," said Home Center President Jason Bosch. "It happened overnight."

"To make a living, you had to push a product you didn't believe in," said Aimee Quigley, a Home Center mortgage broker. "It was like being a defense attorney where you know your client did it, but you have to say he didn't."