Democrat Financial Logic Bomb Squad?

"Could it be possible that Barack Obama may dare to go where George Bush and some Republicans wouldn’t in limiting government interventions" designed to make homeownership an entitlement - the scheme that destroyed the residential real estate market and laid waste to the formerly private financial sector and delivered a political bonanza to Barack Obama and the Democrat Party in 2008?, asks Ensign Ed.

No, it isn't.  But Red Barry did stay at a Holiday Inn Express last night:

Responding to the collapse in home prices and the huge number of foreclosures, the Obama administration is pursuing an overhaul of government policy that could diverge from the emphasis on homeownership embraced by former administrations.

“In previous eras, we haven’t seen people question whether homeownership was the right decision. It was just assumed that’s where you want to go,” said Raphael Bostic, a senior official in the Department of Housing and Urban Development. “You’re not going to hear us say that.”

Bostic, who has published leading scholarship on homeownership, added that owning a home has a lot of value, but “what we’ve seen in the last four years is that there really is an underside to homeownership.”

The administration’s narrower view of who should own a home and what the government should to do to support them could have major implications for the economy as well as borrowers. Broadly, the administration may wind down some government backing for home loans, but increase the focus on affordable rentals.

The shift in approach could mean higher down payments and interest rates on loans, more barriers to lower-income people buying houses, and fewer homeowners overall, government officials said. But it could also pave the way for a more stable housing market, one with fewer taxpayer dollars on the line and less of a risk that homeowners will not be able to pay their mortgages. And it could spell changes throughout the financial markets, as investors choose new places to put their money if the government withdraws some incentives for investing in the U.S. mortgage market.

It was never about who should own a home, but whether or not a prospective homebuyer could afford to do so.  That simple, traditional risk factor used to have to be considered by lenders in order to not extend mortgage credit to people who most likely didn't have the means to pay it back.  Frugality really isn't a difficult concept to grasp, once you get rid of ideological hostility to the concept.

If this leak to the WaPo meant that the White House was intent upon abolishing the Community Reinvestment Program, cleaning all the Donk crooks out of Fannie and Freddie, divesting them from the federal books, repealing the FinReg turd they just passed and signed, etc., I'd be leading the "three cheers for Barry" chant once I'd regained consciousness after my dead faint.  So this obviously has to be something else, if it's anything at all.  Most likely is now that the residential real estate sector is a mass of debris and twisted wreckage, the interventions will whipsaw over to putting and keeping the federal jackboot on its throat to prevent any revival, with the regime's "narrower view of who should own a home" taking on the requisite political dimension.

The Democrat Financial Logic Bomb served its purpose; now it can be released, like a heat shield after atmospheric re-entry.  You know, all that space stuff we don't do anymore.

Kinda makes me wonder why "news" segments like this one aren't broadcast on the History Channel instead.