Yes, the theme is greed. Big returns for no work. Easy money. Pay only the interest, get to deduct all the taxes, interest, etc. and then get a hefty return each year....probably much less in cost than renting a comparably valued home. Too boot, many of these “free money” gamblers were expecting high valuations and eventual sale to make a tidy equity profit. Screw them. If you aren’t greedy you are likely not to get screwed.
I never considered my house as an investment. I got a 15 year mortgage, paid it off in 7 or 8 years. I have no idea nor do I care how much it would sell for now. I live here, it’s my home, not a savings plan. My wife and I and the tax assessor own it.