The housing market turned out to be a house of cards from "summary" of The Big Short by Michael Lewis
The housing market was a place where illusions were created and perpetuated with the help of faulty assumptions and wishful thinking. It was like a house of cards, built on a shaky foundation of subprime mortgages that were destined to collapse. These mortgages were given out to people who couldn't afford them, based on the misguided belief that housing prices would continue to rise indefinitely. As the market grew more and more inflated, with prices skyrocketing to unsustainable levels, the cracks in the foundation started to show. The entire system was built on a house of cards, with each card representing a risky mortgage that had been bundled together and sold as an investment. When the inevitable happened and housing prices started to fall, the whole structure came crashing down.
Investors who had been lured in by the promise of easy profit...
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