The issue in the last crash were teaser rates for the average working man as well as investors. Most people bought homes after 2008 at low fixed rates, there was no need for teaser rates for anyone when you can get 3% fixed interest rates. We aren't seeing a 2008 crash anytime soon.
The driver for the recession will be the $9 trillion corporate debt...this extends to real estate developers/lenders
so you are right to some degree but an economic downturn is inevitable
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