Real Estate Values – The government through The Community Reinvestment Act and other regulatory actions relaxed the real estate lending standards with the intention of allowing a greater number of people to have the opportunity to buy a home. Loan programs were rolled out that allowed people with non-prime credit and little or no income to qualify for a home loan. The sub-prime mortgage market was born which included the infamous “Liar Loans”, where people could get a home loan by just declaring their income, otherwise known as “Stating their income”. In this situation the lender would just accept just about any monthly income claimed by borrowers to quality for a loan. In addition the age old requirement of having home buyers contribute a down payment was done away with and the opportunity for a home buyer to buy a house with no money down and no income qualifying requirements was made available. Real Estate Values.