I think I am understanding what you are saying, but I can’t seem to put it into context with the housing bubble and financial crisis.
In your opinion, what was the primary driver behind the financial crisis and how did it relate to the housing bubble? From my interpretation of what you are saying, it seems that the entire economy was distorted by the low interest rates as the capital structure was lengthened in many industries where it was not sustainable, but that doesn’t explain why housing was such a big part of the overall picture.
