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 .
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 Fannie Mae and Freddie Mac offer 3% 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 report that bank repossessions have risen to 66% YoY in Q3 2015.