Economic Collapse Repeat (We Are In The 2007 Phase.....Next Is A 2008 Style Implosion)

If history doesn't repeat itself it often rhymes. The setup is so similar to the 2008 crash that it is scary. All these apartments going up in all these cities as well as new neighborhoods being built yet supposedly 500,000+ people died in the last couple years from this sickness. Things don't seem to add up but there is one thing for sure rent and housing prices have went up way faster than wage growth which is interesting because US wages in the tech and engineering sector seem out of control as well. Even just looking at fast food places advertising for help and they are offering like $14 / hour to work at Burger King in the Midwest. Things seem very far out of check and it would only seem logical that things would snap back to reality to some extent. The only thing I could see saving the housing market would be a restructure of mortages where banks start selling 40 and 50 year mortgages as a product. I'm not saying that will solve the problem but basically I could see them doing that to kick the can down the road. Also I could see them be more forgiving and let people tack on their back payments to the end of the loan and try to get people rolling again because when it comes down to it these banks aren't going to want some of the properties that were recently bought and that will be underwater if not now, soon.