Can I Live in Your Bank?

"It's sobering to think, but some people shouldn't be thinking of (their home) as an asset," [Bank of America Corp Chief Executive Officer Brian ] Moynihan said at the 2011 National Association of Attorneys General conference. "They should be thinking of it as a great place to live."
What made America different from the rest of the world was this crazy idea that you could own something, be it a farm, a piece of land, a lot in town, a house or whatever and that it would actually have a measure of value that could not be taken away from you, like back in the old country when the rich people who ran things could just decree that everything you owned was the property of the Prince or the King or the Dictator and then sell it, seize it, burn it, or use it to make rifles or whatever.

Is America going in a different direction now? Because I'd sure like to know that before I ask Bank of America for a home mortgage.