Why is there a 2008 hangover?

[Sam Josh]

Why is there a popular sentiment that the 2020 recession is just like 2008 where there will be a major housing correction?

First off wasn’t 2008 simply an outcome of poor underwriting and loose lending standards which have since been tightened.

In contrast the 2020 recession is an outcome of a pandemic which is causing economic havoc but homeowners and lenders all seem to be in much better standing now.

So what drives this thinking that home prices are going to crash the same way they did in 2008? Why should there be any correction in the housing market except for investors who are over leveraged and will have to unload properties as rental vacancies rise.