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mathNEW YORK, NY – You don’t have to be Einstein to know that you shouldn’t buy what you can’t afford. But some economists are now blaming Americans with poor math skills for the housing bubble burst.

Researchers at Columbia Business School, the Federal Reserve of Atlanta and the University of Lausanne reported that 25% of borrowers who held mortgages before the meltdown and also suck in basic math, defaulted within five years of getting the loans. Meanwhile, only 5% of those who scored high with numbers lost their homes.

“A family is a business and it’s supposed to run at a profit,’ explains Steve Davis, Vice President of Lifestyles Unlimited. ‘If they can’t even do simple addition and subtraction… and a basic budget… you bet they’re gonna get in trouble.”

These figures say a lot about our educational system and the need for improved financial instruction, but they also show the irresponsible behavior of those who gave the loans and understood not only the numbers but what was really at stake. And that’s a simple two plus two.