> they are already poor so they don't have mortgages to default onto - they can't afford even in good times - and that avoids a major risk of repeating 2008.

> they are already poor so they don't have mortgages to default onto - they can't afford even in good times - and that avoids a major risk of repeating 2008. Yeah, well you are forgetting the people they were renting from have mortgages… 2008 will be a cake walk compared to this… can't "extend and pretend" forever…