We used to have low income housing. Now we have no income housing.
Low income housing was government building apartment complexes that gangs took over.
Government didn’t want to own the real estate becuase people living there trashed their own units and their surroundings.
So they forced banks to make subprime loans, and become the owners of the properties these people would wind up not maintaining because they didn’t know how and had no pride in maintaining them. Or paying their mortgages.
Government forcibly privatized public housing onto the banks via subprime mortgages. If the properties got damaged it’d be up to someone else, not government, to repair them, be responsible for them, etc. And if banks complained govt always could demonize the banks.