Why 2008 Is So Much Different Than What’s Happening Now
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The biggest difference between the 2008 financial crisis and the current situation is that in 2008, many people bought houses they couldn't afford, leading to a crash in the housing market. However, in the past 18 to 24 months, the supply of houses has been low, so fewer people have been able to buy at the higher prices. As prices start to go down, not many people will be caught with underwater mortgages. The spike up and down will be short-lived, and things will return to normal sooner than expected.
The biggest difference between the 2008 financial crisis and the current situation is that in 2008,