They also had to keep rates low in the forlorn hope that young Americans would buy homes. Here in the northeast that just isn’t going to happen; the job market is so bad, high property taxes are holdovers from before the McJobs economy, and simply put, people that don’t breed don’t need detached single-family homes. Now the trend is towards multi-unit hives where childless American adults may raise pets while they watch foreign kids fill their local schools and playgrounds.
You see it too!