It's rare I outright implore people to read an article

[magical thyme]

62. it was not just subprime loans that went under during the crash

any newer mortgage with little down payment went under water. My sister's half million dollar house is under water.

And those of us who had saved for a couple decades to purchase a house outright, and then spent what was left of our savings fixing it up, now can only sell at a huge loss if at all. So if your job leaves the area, you're stuck unemployed or taking huge losses from your savings or leaving the house behind to sit empty and rot or try to rent it out to somebody who doesn't pay or trashes it or both.

Every 99% homeowner was injured by the crash; not just the people targeted by the subprime market. It's just that for the 1% it become a write-off one way or another, and/or they can make up any losses by picking up a few dozen bankruptcy homes and flipping them.