They dont care if you make the payments or not - thats just a bonus. They've got your 25% deposit. If you are facing foreclosure/repo they will rent it back to you.
There's also the ranks of the under-employed: the self employed or part time workers who cant find enough work but dont claim benefits. I was one for 3 years until I ****ed off
Ive just re-registered for this forum (new name long absence after lurking for ages) because I wanted to say what an absolutely corking post that was. You've really put into words much better than I could my thoughts on this whole PC lark.