I worked in the title insurance industry around 2005, data entry. So I saw thousands of mortgages being issued every week, and my job was to data enter mortgage details and data enter the research showing clear title of the property.

I was 19 years old and renting a studio apartment and even I was shocked that every. Single. Mortgage had an adjustable rate or balloon rider on it. Reading the terms of those I was thinking how the hell will any of these people make their mortage payments in 4 or 5 years?

When I would talk to people older than me with homes and investments they would get genuinely upset and tell me I couldn't possibly understand, the banks know what they are doing. Ok.