In regards to 2008 at lot of that had to do with subprime lending though no? There has been change in lending practices since then. The issue doesn't seem to be that they're over lending but the home's value is overly inflated.
The issue if you look at in a basic sense was that people were buying homes at inflated values. This was because homes appraised for those higher amounts. Banks loaned at those higher rates.
Sure, there was a big dance about legislation on lending practices.
Everything I described above is the same now as it was but on a much more inflated scale.
This situation is obviously a lot deeper than this basic explanation, however, nothing has changed from 2008 to now. All that happened was they threw a shit ton of money on a fire.
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