To be honest I almost never comment on a HN post when I&#x27;m this uninformed, however here is my reasoning:<p>Since the crisis, people now have a much better idea of what&#x27;s in mortgage-backed CDO&#x27;s than they did during the bubble. The ratings agencies are also under much more scrutiny to properly classify the risk of these vehicles. On the consumer side of things, it&#x27;s much harder to get a mortgage than it was before the crisis. Adjustable rate mortgages are much less common, don&#x27;t have misleading intro rates, and don&#x27;t make brokers sky-high commissions. I grew up in Miami in the bubble, and I remember every other radio ad was for no-questions-asked home loans. You just don&#x27;t have that kind of culture now.