That's a reasonable conclusion from reading the following assessments of what got the country into the current foreclosure mess:
The real scandal is that the process of recording property title is so antiquated, and there are so many interest groups that resist modernizing it. The MERS mortgage database shows what a modern system could look like. But all of the counties that charge fees for title recording, the title "insurance" companies that shake down home buyers to buy "protection" from getting sued to prove that they own their property--these interest groups want to keep the title recording system as expensive and unreliable as possible.
A change in the system, even one that improves the condition of the vast majority is prevented by an entrenched interest. The minority clogs the administration.