There has been plenty of talk about the decline in housing lending the country into recession. A recovery is being held back since housing remains stagnant. The housing market always has up and downs. Usually a slowing economy then hurts the housing market. This time it was opposite. A down turn in housing caused a recession a depression for many.
What really caused the down turn? I would seem to me that over zealous politicians in Washington would be my guess. Government mandates to put policies and programs in place to increase the rate of home ownership at an unrealistic and unhealthy pace. Instead of focusing policies to raise the standard of living for the lower and middle class Americans, better education & work programs they instead choose to lower requirements to purchase a home.