Was it after Fall 2006 when home prices stumbled?
Giving loans to people that could not afford homes created the housing bubble (which is now collapsing). The housing bubble started in the mid-1990’s when Clinton started pushing for homeownership via ARM’s, subprimes, etc..
U.S. Federal Reserve
http://www.frbsf.org/publications/economics/letter/2006/el2006-30a.gif
