Melody Wright’s Honest Take On the “Worse Than 2008” Crash Claim

A housing price correction “worse than ⁠2008⁠”? That’s the headline of Melody Wright’s widely-cited ⁠Newsweek interview⁠, but today, she’s giving her full, honest take on what she really meant. Melody got into the mortgage industry in 2006, riding the subprime wave up until it popped two years later. The lender she worked for went bankrupt in 2012, as Melody witnessed the fallout firsthand. From there, her new job became analyzing housing data to ensure this never happened again. And looking at the data—delinquencies rising, inventory spiking, a quiet “credit crisis” rarely talked about—Melody believes we could be on the verge of another serious correction. Today, we’re getting her detailed opinion on whether we should expect a ⁠housing crash⁠, correction, or a slow, stable return to ⁠affordability⁠. We talk at length about the rising delinquency rates (much of which is not public) signaling serious trouble for the housing market and borrowers, and the “credit crisis” brewing b...