I'm not so sure I like this video as it puts the blame squarely on the mortgage broker primarily and the banks second.I'm far more of the opinion that mortgage insurance and government pushing socialist policies to lend to far more people than the banks would normally were primarily the cause. Essentially 'the people' thought that far more of 'the people' should own houses, so they made lots of neat rules to enable it and banks followed suit.Only three real changes need to be made which would essentially fix the problem. One is to require 5%-10% down on the property, the second is to require any qualification to be done on the 'default rate' or not any form of intro rate, and third all income must be verified. Simple, all the socialists will be in an uproar that it targets poor people who can't afford houses, to which the only logical response is "Of course it does, they can't afford them."
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