I am not an expert in this. Feels like, we are in uncharted territory. I was looking at 2 main params to compare Covid crisis with 2007/08 recession.

1. Case Shiller Index for SF area (higher the the value, higher the house price) https://fred.stlouisfed.org/series/SFXRSA

2. Financial Stress Index (Ideally should be around 0. Higher the value means system is financially stressed) https://fred.stlouisfed.org/series/STLFSI2

If you compare this against 2007/08 crisis. The Case shiller index for SF hasnt dropped much at all, even though the stress index is pretty high. Not sure, what am I missing. Would love for HN folks to educate me on this.