I think we are heading towards another 2008 myself.
Cheap rates, houses are exploding in price because the cost to build is nuts. My area the average new house 2 years ago was 130-150k for a typical 3 bd 1600sf deal. Now new home builders won't touch that unless its 200k and some won't take jobs that are not at least 250k.
Left with houses on the market that are fetching tens of thousands more than they should even realistically be close to getting. Some will take baths. As long as they can keep making payments then that is fine. I just feel the bubble is going to pop.
It would be nice if the fed would start raising the interest rates to kind of slow things down a little. GM reported their best quarter ever so its not like these major corporations are struggling.