As you said, the housing market is "healthier" now. It can take a few punches from higher interest rates and lower sale prices and not collapse like it did last time. I think the "kindling" this time is more in government debt and corporate debt, both of which have grown very fat on zero interest rates.
The trough is being taken away from those poor pigs and next comes the slaughter.
The loud part -- "We're giving disadvantaged communities access to the dream of homeownership!"
The quiet part -- "This is exactly what we did last time. Borrowers with poor credit profiles, very little money down, and low incomes tend to be from disadvantaged communities, after all. Last time around you all called it predatory, and it was, but this time we're going to dress it up for social justice and dare you to call it out and dare you to oppose a bailout that really helps us but will be sold on equity grounds."
Giving a loan to a person who cannot handle it is ultimately doing them no favors.