You are thinking right..no one forced people into houses..

Greenspan was the bigest culprit for dropping interest rates so low in the first place to allow the scum into offerring the uneducated and impoverished the big hope and the American dream..home ownership..

And some American consumer mentality......SPEND..!!!!!!

When the new homeowner that shouldn't have been in that position ran out of money,remortgage..!!

Greed was in there like a dirty shirt..

And when the interest rates went up the impoverished homeowner walked..The banks and mortgage holders got the homes back..the American ex homeowner had his credit history,which was probably zero in the first place,now so negative ..they will never get credit again..

It's a mess.