via Flyertalk: A housing crusade that went awry
Today, administration officials say it is fair to ask whether Bush’s ownership push backfired. Paulson said the administration, like others before it, “over-incented housing.”
Keith B. Hennessey, Bush’s current chief economics adviser, put it this way: “I would not say too much emphasis on expanding homeownership. I would say not enough early focus on easy lending practices.”
Also, another good site to look at is the Doctor Housing Bubble/ blog.