I was raised to never do something like that, scaredycat, but the total unfairness of the massive bailouts has made a dent in my moral compass. Now if I saw a chance to pocket a few hundred thousand (in value) by drinking from the same trough, I would. I pay hundreds of thousands in taxes every year, so I am going to be paying for all the feeding anyway.
Just make sure to put little or no money down. If home prices crater, you won’t want to have to absorb any of the loss, and it’ll make getting the loan mod easier. And if prices go up, you can refi if you want.