Anecdotally I've heard from plenty of people that they have strategies like putting minimum down on a house so they can walk away from it if the market crashes,

Anecdotally I've heard from plenty of people that they have strategies like putting minimum down on a house so they can walk away from it if the market crashes, as a lesson from 06-07. I suspect plenty of people learned lessons from the last crash about moral hazard and are doing whatever they can, for example not paying rent as long as possible just because they can, and then when the crash happens they'll buy a house or meanwhile it might be in Robinhood. The poor aren't stupid. They can figure out schemes and strategies just as well as Wall Street, they just have less opportunity in most circumstances.