The financial meltdown and recession we’ve had is primarily due to the silly notion that everyone is cut out to own a home, should, and will own a home. De-regulating the housing/mortgage industries opened up the gates of hell where lenders were giving loans that were absurd to people who could never really afford them. Dumb buyers purchased homes at ultra low ARM mortgages thinking somehow that “adjustable” really meant “permanent.” Deadbeats who had previously defaulted on loans and who had lousy credit histories were given big $$$ to buy a home and every Tom, Dick, and Harry went along for the ride. It boiled down to stupidity, pure greed, deregulation with socialist intentions, and finally a mass exodus of people who couldn’t make their payments walking away in foreclosure. Banks couldn’t handle the mass foreclosures and ate it, wouldn’t lend out to small businesses, businesses cut back, profits from the big corporations plummeted, stocks tumbled, people were out of work and it was like dominoes. It all started with the foolish idea that everyone deserves to own a home and the liberal agenda of trying to level a playing field loan-wise for people who have lousy credit histories. I hope we’ve learned from the idiocy that took place in the mortgage/banking industries!