There are no conspiracy theories regarding the housing market. I don't think that Reptilians caused the meltdown..
There is no single cause..However, multiple things contributed to the bubble bursting.
When you have cardboard boxes that they pass off for a home, that sells for 440 K, with no yard. You know the bubble will callpase..
It was like the tech bubble..There was a company Ventro that had 10 million in annual revenues...However, this company's market capitalization was about 20 billion..
When prices deviate from long term norms, sell, sell, sell