Yes, the housing market is crazy these days but experts explain that conditions are much different today than in 2008, primarily due to stricter bank loan regulations and homeowner equity. During the Great Recession, approximately 20 percent of home loans were adjustable in the decade leading up to 2008. Due to tighter loan rules, only 4 percent are ARMs these days.
When the housing bubble burst in 2008, values dropped 30 percent. Today, even if a homeowner could not afford their mortgage, they could easily sell for a profit.
Analysts agree that conditions today are very different than in 2008 but also warn that unforeseen economic and global forces are always a risk factor.