I completely agree. The trick is the same, create a complex product that is going to make it hard to regulate and sell it to unsophisticated investors that are blinded by the rapid initial gains. When it explodes let others fix the resulting mess and run with as many money as you can.
The only good part is something as fundamental as homes is not part of the schema. I hope that this reduces the size of the impact in the general economy.
This is a point that's understated. Problems in the stock market hurt the real economy, problems in the crypto market hit an insular community of people who are trying to scam each other, much less of a societal issue.
