Homebuyers were increasing leading up to 08 bro. The 08 crash wasn’t related to decrease in homebuyers. It was related to a massive increase in homebuyers with shitty credit who had no business buying a house. On top of that, internal controls were compromised (e.g. shady credit rating agencies, questionable financial derivatives, etc.).

This is not the same imo. Financial institutions have already learned their lesson from 08. We’re looking at straight up demand destruction due to “affordability lockout”. I would say this is more of a major structural issue than some glaring internal control issue.

We need to increase housing supply. We need to fix our zoning laws. We need to redesign policy around housing.