This week we looked at the history of the secondary mortgage market as well as the ins and outs of how this market works. As part of this discussion, we will look at the cycles of the market and other trends and impacts to mortgage backed securities$.$ With your own knowledge and your own research, as well as the resources from this week, consider the Subprime Mortgage Crisis and the ensuing market downturn from $2007-2008.$

With this in mind, do you think that we should have seen the $2008$ crisis coming or predicted its occurrence? If so$,$ what red flags do you think should have been identified prior to the crisis? If not, why do you feel we could not have predicted the outcome?