Turns Out Free Money Is A Toxin. . .

. . .and now the housing market has cancer.  https://shorturl.at/mmRLv

For years, cheap debt and easy money fueled a housing frenzy. Now the bill is coming due and it isn’t pretty. This Wolf Street piece is both entertaining and eye-opening: the stories of homeowners juggling three mortgages to survive sound less like financial strategy and more like financial desperation.
The “cancer” analogy isn’t far off.  Free money was the toxin, and now the housing market is living with the consequences.

But here’s the bigger question:
Is this just the beginning of the hangover?
Or is this the reset new investors have been waiting for?
I’d love to hear what you think, especially from those who lived through, (and maybe invested through), the last cycle.