Why this housing crash will be different

This housing crash will be different from in 2008, Analysts are saying this, and their reasoning is that the banks have a bigger capital requirement than last time, when banks were over-leveraged and lending more than the houses were worth.

The thing that Analysts aren't talking about is that these house prices are more than what they were in 2008, and so the mortgage debt that buyers take on has increased since then, in some cases almost double. Moreover, wages have fallen in real terms since 2008, meaning the debt to income ratio (how much money you owe vs how much you earn) would then naturally be increased. As a group, spenders are over-leveraged in this generation, which is always a big problem.

With inflation being 11% (at the time of writing) the Central Banks do not have the same tools they had last time in lowering rates to increase market stimulus.

This is the key reason this will be different and it needs to be looked at as such, the global economy is in a bind.