Lessons from the housing fallout

NEARLY EVERY day, it seems, we hear about the rising tide of homeowners who are losing their homes to foreclosure, and the identified culprit is usually the "predatory" lender. But there are simpler, less nefarious reasons why some consumers find themselves in this predicament. There are structural conflicts of interest in the real estate industry - conflicts that helped shepherd borrowers to all-too-predictable financial ruin. We should use the present crisis as an opportunity to correct them.