For Certain Reasons

The arrests of several militia members in Michigan, Indiana, and Ohio over the weekend and Monday remind me of an experience I had with a member of a similar group.

In November of 1998, I was working as a loan officer at a bank branch on the north side of Ann Arbor.  The bank "offered" everything from unsecured personal loans to car loans to home equity loans.  However, the only loans incentivized to loan officers were home equity loans, so we were encouraged to steer all customers to that type of product.  Even if you had great credit, if you didn't own your home, we would likely find a way to deny you - typically insufficient net worth.  When I asked my superiors why we always tried to get a home as collateral, they invariably responded with what was then considered gospel truth:  A home will always, ALWAYS increase in value, 2.5% per year, guaranteed.*