It is true as stated; however, replace the word 'forced' with 'allowed and / or encouraged' and your statement becomes quite erroneous.
Greedy lenders and equally greedy but risky purchasers both contributed but there was tacit government (read: Congressional) encouragement to do so. The Administration tried to rein in Fannie and Freddie in 2003 -- and Congress refused to allow it.
Same phenomenon that had lead to excessive credit card debt...
Vote 'em all out!!!
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