It is my opinion that the housing crash blame is pointed at the wrong group. Sure predatory lending played a part, but a small part. Many of the houses went into foreclosure because of jobloss.
High interest rates was a small number compared to the thousands of joblosses that were accurring each month. That was the problem. Jobloss. No Nehemiah, or down payment asssitance, these things helped people get in who would otherwise wouldn't. And thoses that didn't get laidoff, who used down payment assistance, are still in their homes.
I would also blame PMI, which no one is looking at. I have seen this increase a person's monthly payment by $200, making it unaffordable along with the adjustable rate. If PMI wasn't so high, maybe we could afford Healthcare. (thought I would give that a plug) What do you think?