The question is, was 2008 a housing bubble, or a banking scandal?
The market didn't become too much for consumers or sellers, overloading and resulting in rapid price deflation (eg. A bubble popping).
Instead Banks were doing dodgy accounting so that poor people were getting loans they shouldn't have been eligible for.
In fact, maybe we should have legalized some of what the banks were trying to do. Poor people getting a chance to buy the worst homes, the banks facing costs and fuss if they can't pay up. The burden of the housing crisis should be shifted a bit more onto banks and billionaires.