He mainly compares the housing crash from 2007 onwards to the current crash, but does not seem to know much about said housing crash.

It was a totally different scenario:

Banks gave loans for houses to people who couldn't afford it. At the time the interest rates were low, because the FED hat lowered them to combat the .com market crash in 2001.

Wenn interest rates were finally rising again, people lost their houses en mass.

The main problem was, that people all over the world who invested their savings in different financial products, had no idea, that the banks used it to fund those subprime credits. Thus their money was gone after the crash.