I say no. However, starting way back in the Carter administration the push began for everyone, regardless of their income, to own their own home. This was the beginning of the sub prime loan crisis we suffer from today. 

In 1977 the Carter-era Community Reinvestment Act came into existence. This act forced banks and savings institutions to make loans to the lower-income areas in the communities they served. In other words the loans were required to be made to  mostly uncreditworthy borrowers in minority areas. 

Harsh regulations were put in place that required banks to lend to poor borrowers, but they also had to so so based on race.

During the Clinton years in the early 1990s these well-intended rules became turbo-charged. If the bank didn’t want to comply then they might not be allowed to expand lending, add new branches or merge with other companies.

 
Banks began making loans, all in the name of diversity and opened branches in poor areas to raise their CRA (diversity) rating.

Meanwhile Congress gave Fannie and Freddie a go-ahead to finance all of this by enabling them to buy these "diversity"  loans from the banks. The good and bad loans were combined together (bundling) to be put up for resale on the open market. This resale spread the problem to Wall Street where they were put on the market.

Fannie and Freddie did not have as much oversight as the banking industry and the more loans they put up for resale, the more it looked like they were doing a booming business.  With the booming business came large bonuses for the executives and they became addicted to the large checks.

At the same time the Office of Federal Housing Enterprise Oversight was monitoring Fannie and Freddie to make sure they stayed above a certain capital level for survival. The sub-prime loan market got dicier and dicier, and Fannie and Freddie were starting to dip below the magical capital level. For survival sake they began dumping more bad mortgages into the marketplace, making the situation even worse.

In 1994 the sub prime loan market was at $35 billion.  In 2008 it had grown to $1 trillion. What happens next?

Next the Connection Between the Sub Prime Mortgage Crisis and Out of Control Immigration...