This along with the FED lowering interest rates in the early 2000’s all the way down to 1%. This spurred on the credit/debt bubble and more home purchases and construction.
And Wall Street ran with it, unfettered and free, creating all sorts of popcorn fart financial “instruments” to sell back and forth to each other.
But that’s ok, we’ll keep pointing fingers at one aspect, and only one, guaranteeing that all points of blame remain intact to do it again the future.