[rolltiide]

The people that borrowed to get them were greedy speculators too, and they just aren't talking about it.

They just forgot that “when your taxi driver is talking about investing, its time to sell” and they were the literal taxi drivers in the adage.

The blunt reason is because they are the bottom/edge of society’s universe of investors, so there is nobody else to sell an asset to at a higher price.

The same result would have happened eventually, the arrival of Uber & Lyft exacerbated the outcome much faster.