That is the scariest part.
...contrary to popular belief, the government will not serve to enforce the law. (Or rather, the “law” can change on a dime, depending on the public’s mood.)
And that is what got this whole mess started.
Let the market sort it out. If you can't afford the house, you shouldn't have tried to buy it. Don't expect your defeatocrat friends to bail you out with MY money, which is probably what they will do anyway.
A lot of these people were told they could afford the house. The mortgage anyway. Most people don't know the money a house, even a new one, sucks in over a year.