Really what happened was that the government made it really easy for everyone to buy a house, and put regulations in place to keep it that way. Interest rates were very very low, and banks were forced to give out loans to people who couldn't necessarily pay it all back. This wasn't mentioned in the video but it is something I saw the other day as a result of the housing market crash. The reason that currently houses are very hard to afford still is due to the fact that they are bought by a few huge companies who control the price and keep it high when they resell it. I think the government needs to put regulations in that make purchasing houses be an independent and lonely transaction so they are actually personal property that can be sold independently at fair prices.
YEAH! those smelly companies need to stop purchasing housing from the people who need it! (grrrr)