Who caused the housing crisis? Apparently it was the people who asked to borrow too much — not the people who actually gave it to them. And which group of people asked for more than they should have? Generation X, that’s who.

So implies US News and World Report in its post “Did Generation X Cause the Housing Crisis?”

The largest percentage of households in foreclosure belonged to those in Generation X—in particular, Gen-Xers who had high average household income ($59,500) and years of education (14.8 years).

The article goes on with some other shockers, such as the analysis of what kinds of mortgages were most likely to end up in foreclosure: Those with a high loan-to-value, those with a higher purchase price, and those where the borrower had lower income.

Who would have suspected that someone with a small income asking to borrow 99% (or more) of the cost of an expensive home would end up in foreclosure? It was a lesson to all of us. And now we know who to blame.