One reason to think strongly no - you are required to put up real money and UW standards for banks are at least in existence today vs 2007. I don’t know if I think this is a bubble or not, but in looking at houses recently, it seems a lot of them are being sold after 2017-2019 purchases. Literally first time home buyers of two years ago have $50-100k in equity in their houses and have decided to immediately trade up. They are buying homes a step up from people who also bought two years ago - who are going to do the same. All perpetuated by low rates and a creeping “house values can’t come down” mentality. I don’t know if that’s a bubble that will burst, but the above is definitely a cycle that leads to unnatural value inflation at a rapid pace.