While our brave millennial meat shields in the armed forces and their GenX commanders cleaned up Boomer geopolitical trash, trouble brewed in the homeland.
“It’ll appreciate forever!” The bonus-crazed loan officers cried as they sold subprime mortgages to people who couldn’t pass a rental screening.
“You just refinance it before the balloon payment, it’ll be easy since it’ll be a lot more valuable in a few years!” their megachurch pastor told them in his latest book of financial advice.
“These are rock solid investments.” Said the pig faced traders as they sold the leaking barrels of toxic derivatives.
Everywhere, fetid bubbles of economic waste were bursting. As wages went up slower than the price of toilet paper, the American middle class staggered. It stumbled along in the kinda-sorta recovery that dragged on for years after the dot com bust and 9/11. It used equity to pay off credit cards they used to buy their kids the latest sneakers and ramen.
The first foreclosures were fast, orderly. But more kept coming. The dockets backed up but the process servers couldn’t keep up. They ran out of sheriff deputies to evict families from homes they’d already striped the copper pipes and wires out of.
When the money came trickling back to the housing markets it was as the 1% bought up foreclosed homes to rent out. They gobbled up homes turning corners America into their own private SimCities.
Meanwhile, a battle brewed for the moral compass of America.