The real estate / construction industry was extremely greedy and built lousy products. Most of the newer homes are of shoddy quality and to top it off, thousands of acres were ripped up to make space for homes that are now sitting empty in far-off suburbs that have zero community, asthetic or any other kind of value. Face it, this is one industry that deserves its misery even though some good people are suffering. From politicians to planning boards, everyone who got in its way was simply bullied, coerced or paid off to agree with it. The subprime crisis, the toxic derivatives crisis were all an extension (and result of) the housing / construction industry.