The people that got over on us all were the individuals that decided not to make payments on their zero-down payment loans when it turned out their "investment" didn't turn out to be as profitable as they thought it would be. The same thing happened in Ireland. It should have been something to take a lesson from but so many people have the same skewed perspective you have that I wonder how long it's going to be before we do it all over again. My wife (Irish) still believes that land is a foolproof investment. Fact is, we may not ever again in our lives see land values like those stupidly high inflated bubble values that made homeowners and prospective homeowners giddy with delight. It was an orgy of financial excess for all involved; not just the lenders. The lenders were the ones left holding the bag.