The housing crisis of 2008 was probably one of the most economically destructive events in Spain, where I'm from. On the runup to 2008, you would hear stories o

The housing crisis of 2008 was probably one of the most economically destructive events in Spain, where I'm from. On the runup to 2008, you would hear stories of people buying a home and it going up 10-20% year over year. You'd literally be an idiot not to buy the most expensive home you could afford as fast as you could (facilitated by 100% mortgages from banks). The rest is history. People were flipping homes and making bank until the financial sector melted down, and then they couldn't. These days prices still haven't recovered to their peak level. People might not be getting those mind boggling ROI buying homes, but in general is more affordable to do so, and many people seem happy about it.