Good post Vishmaw, but Fact Check is not totally on point. The video deals with a lot of the stuff that Fact Check does, but it is not a "McCain/Obama" finger pointing like the ads they are running. It is close to the history of what did happen, with a bent towards the mis-deeds of the democrats primarily.
But on the Fact check, they seem to want to go out of their way to assign blame to anyone and evryone, even to the point of mis-representation. Specifically:
Home buyers, who took advantage of easy credit to bid up the prices of homes excessively.
That is a stretch. Home buyers are not a monolithic group or in anyway organized to do anything in sync. This is more a result of the bad policies of the Government than a cause of the problem. In other words, they were swept up in the problem, not causing it.
Real estate agents, most of whom work for the sellers rather than the buyers and who earned higher commissions from selling more expensive homes.
This is true to a degree. Most people do not realize that Real Estate agents are representing the seller, not the buyer (you can hire your own Buyer agent, but most people do not. And the deal there is the seller still pays them!). But then their job, since their inception, is to Upsell, so that is again not a cause of the problem, just a part of the market.
Collective delusion, or a belief on the part of all parties that home prices would keep rising forever, no matter how high or how fast they had already gone up.
I will not deny this delusion exists. It was there when the S&Ls failed in the 80s (after the Housing price inflation of the late 70s and early 80s), and of course in a different form during the Dot com bubble of the 90s. But making this a cause is akin to saying "breathing" was part of the cause (due to the 6 degrees of separation, everything can be blamed).
But I think the rest of their "foxes in the henhouse" are close to the truth. I am sure everyone is going to have their own pet peeves and culprits. But in a general sense, the rest of their instigators is correct.