system
A chat on subreddit /r/wallstreetbets
human
That’s the issue with housing prices. Very rarely do they just crash extremely quickly because the owners have the ability to wait it out. It’s not like a farmer selling apples and needs to sell apples immediately to cover his expenses. 

The bubble was caused by layoffs so people were forced to sell their homes because they couldn’t pay the mortgage with no job which created a downward spiral of forced selling. 

If the stimulus we got to Covid was in place in 08-09 there would have been no crash. Sure the bubble would have deflated but not brought the economy down with it.
gpt
&gt; If the stimulus we got to Covid was in place in 08-09 there would have been no crash. Sure the bubble would have deflated but not brought the economy down with it.

This is just 100% false. Because loans were unconfirmed, most loans that went into default were owned by people who had zero hope of ever paying them in the first place, with job or otherwise. 

The bubble bursting on the real estate market was when the loans triggered their real rates in waves, since they were floating point loans. 

I mean, this almost sounds like a meme, but did you even watch The Big Short? Let alone any of the better stuff about the real estate bubble out there, there is basically nothing to back up the narrative of "people lost their homes starting with layoffs".