Stephen Moore has written an article titled , “ Why is Washington re - inflating the financial bubble ? ” which states that Washington has learnt nothing from the housing bubble of 2007 - 2008 . Moore writes that although Wall Street was partly to blame for the housing bubble , amongst others , ultimately the fault must lie with the American Government for allowing housing policies that pushed people into low down payments loans which many could not repay . According to Swanson, the Mortgage Bankers Association said at a press conference at its annual meeting being held in San Diego that it expects a decrease in refinance mortgage originations. Observers are worried that history is going to repeat itself since Cora ##m and Freddie Mac offer 100 % down payment loans , Janet Yellen offers zero - interest loans , and the Federal Housing Administration loans have become the " new sub - prime " loans . In addition to the loans on offer , another worrying factor is RealtyTrac 's claim that bank repossessions have risen to 66 % YoY in Q3 2015 .
Stephen Moore has written an article titled , “ Why is Washington re - inflating the financial bubble ? ” which states that Washington has learnt nothing from the housing bubble of 2007 - 2008 . Moore writes that although Wall Street was partly to blame for the housing bubble , amongst others , ultimately the fault must lie with the American Government for allowing housing policies that pushed people into low down payments loans which many could not repay . Observers are worried that history is going to repeat itself since Cora ##m and Freddie Mac offer 100 % down payment loans , Janet Yellen offers zero - interest loans , and the Federal Housing Administration loans have become the " new sub - prime " loans . In addition to the loans on offer , another worrying factor is RealtyTrac 's claim that bank repossessions have risen to 66 % YoY in Q3 2015 .