20 months ago I took out my 30 year fixed. I worked with my bank, I had a big down payment to avoid PMI, and I did a lot of work to get what I wanted. Meanwhile a pair of idiots I am unfortunate to know called the 800 number on a TV ad, got a loan, and called me an idiot for putting anything down since there where so many ways to make money in real estate with no money down. No these idiots are in a crunch and are positive the congress will bail them out. Maybe I am the idiot for trying to do the right thing.
Sadly, you may be right... and it's not just in housing. Look at immigration... look at the prevaence of cheating in high school and college... it's becoming more advantageous to break the rules, especially since liberals are eager to defend every rule-breaker and give them perks. The benefits are no longer outweighed by the risks in many areas of life.