I am afraid that millions upon millions of people are following this map and when the next stock market collapse occurs, they will be in a world of trouble.  

Conventional got much more strict on lending requirements and upped the percentage of down payment.Here comes in FHA to save the day before the market totally drops as it is cooling off some before the collapse.

It was great for a while, then the market collapsed.

Once the country collapses, everything will be on the table.

Krugman also never mentioned that this “excess spending†help contribute to the collapse of the Cold War and at that time, the debt ratio as a percentage of GDP was still below most western European countries.

Anybody have experiences from the last market collapse?

Well about 10 years ago we had a housing collapse in which prices crashed substantially.  

The recent collapse was epic and historic, something that happens less than even once a generation.

They paint once in a while, the bathroom and kitchen subfloors aren't collapsing and the plumbing works in these guys' houses.  

I'm from the Bay Area and had moved to OC in 2005 and both places were in denial well into the collapse (as detailed in the Big Short).