Back in the mid 2000's, demand for mortgages led to an asset bubble in housing. As the value of homes increased people took out loans against the home to buy all sorts of items, things like vacations, cars and boats. These refi's put the homeowner deeper in debt and when the boom was over many lost their home and it hurt the low income people the most. Today houses are increasing in value at an unheard of rate and ads on TV are telling people to refi and buy things. Between Dec of 2020 and Dec of 2021 the average home increased in value from $350,000 to $400,000. That $50,000 can buy a lot of toys and young people are on a buying spree. It was only 15 years ago that this strategy proved disastrous and many younger people don't remember. Will this happen again?