Zero down home loan?

I few years back zero down home loans were all the rage. All most all lenders had program for a 0% down home loan. Many people were able to afford a home with the zero down home loan. And many of these same people are in their homes today with out a problem. Since the mortgage crisis has started. The lending world has become a lot more strict on their lending standards. The zero down home loan is all most at extinct as the dinosaurs are. At this time there are no are very few zero down home loans. Is this a good thing?

So what does this mean. If you had bought a house with no money down and saved that money for a rainy day, does that make you a risk on not paying your mortgage. I believe there are literally millions of people in their home today and they are not having a problem making their payments. And their family are happy because they own a home. They are looking at the long term effect of home ownership and hoping their home value will increase in the long run. Other wise this same people may be renting now. I know it makes a person less likely to walk away form the house if they have money invested in it. But I have never talked to anyone that really wanted to walk away form their house even if they did not have money in it. Most of the people I have talked to were upside down in their mortgage and they still did not want to walk away from their home. They would try and do anything so they would not want to leave. I don't think having money in the house would help. I do believe that a person should have a savings in case something did happen.