Many people who can afford a mortagage equivalent to rent with good rental histories can't save enough for a downpayment. It's no comparison with the number of mortgage loans to unqualified buyers compliments of Fannie and Freddie.<quoted text>no difference G.W. Bush and the Federal Government were still involved and encouraging people into houses they couldnt afford even helping those to qualify with a downpayment tells me they couldnt afford the houses to begin with if they couldnt come up with the down payment and needed the Federal Government to help them which that there is a Red Flag for me.
Warnings by Bush and Bernacke of the impending crisis were ignored. There's no two ways about it.