The Left CAUSED the housing crash via the egalitarian theory that home ownership for the lesser class would make everyone middle class. Since the crash happened on Dubya's watch, he wore the collar...but he had tried to rein in the silliness and got rebuffed by the Left.
I was a senior level banker 3 decades. The simple truth is that MANY people are NOT credit-worthy for mortgages. They either will not pay (bad credit history) or cannot pay (lack of payment capacity), or BOTH.
Having the guvment guarantee an ill-advised loan does NOT make it a good loan.
This was the worst domestic policy disaster in my 62 years...along with the War On Poverty, which has squandered $16 TRILLION! The Left queered housing values and even retirement saving