Aren't you describing one of the claimed objections to Obama's scheme- that it will be "crappy" so those who can afford it will seek alternatives, leaving everybody else with an unsatisfactory result? Sounds as if it's already happening.

And what's your point? Fiscally resposible people should only purchase what they can afford. Hey. Wait a minute. Wasn't the idea that every one deserves to own their own home even if they can't afford the mortgage what got us into this mess in the first place?