I disagree. If people know that they will be foreclosed on if they don’t pay their loans (without a damn good reason), they’ll be less likely to take overly high loans in the first place.

Banks are not in the business of providing comfy places to live to trailer trash. 2008 was as much a fault of the losers who took the loans as of the banks and Fannie.

Lending standards were about right in the 80s. If you couldn’t show 20% down and income or assets, no deealio.