These two sentences seem contradictory to my eyes.
I can clarify.
Home equity around 2008 was dramatically lower than it was right now. Exotic loan products like negative amortization, option ARMs, 100% LTV (or more), stated income and asset, no income and asset, etc were rampant.
We built a housing bubble through qualifying borrowers that had no business owning a home. Combine that with low home equity and you’ve got massive foreclosure problems. Even people that could pay were giving up.
Underwriting standards have been much stronger the last 10+ years and a lot of loan investors are seeing mark-to-market loan to value rations in the low 60s on average. Unemployment is low (for now) and most owners are in at sub 3% internet rates. There is infinitely more motivation for owners to ride out a storm this time and if they do experience things like Job loss, divorce, death, etc they can sell their house and walk away with their equity. Rather then just let the bank take it which is what happened en masse 14 years ago.
My point about the investors is that there is also a lot of people with money to invest that could buy rental properties- especially if markets soften a bit - because they’re getting $hit returns in the stock market right now.
My point about “different place” is specifically in relation to mortgage profiles and homeowner positions.