Quote Originally Posted by Ken White View Post
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!!!
True, also in order to afford ANY reasonable home in many communities meant that lower middle-income famlies had to take whatever risks were offered. If housing had been truly affordable to the middle-class, then we could berate them for taking needless risks. I have a household income of a little under six-figures and I can not get approved for any housing except for a condo, unless I chose to take a risky mortgage. I chose not to, but I see easily why many did. In fact my wife and I often second-guessed our decision to not buy a home.
Reed