Calculated risk is a must read blog.
I got onto to it around 2007 and thus had the benefit of knowing what was av=bout to happen but not expecting the depth of such a collapse to erupt right around the world.
Here is Tanta explaining to all the problems of sub-prime.
Please note it rarely included poor people who couldn't afford the mortgage. Research by the Fed and all Regional Feds have backed up this eerily prescient article.
I should add the head of credit research at Colonial First State was very impressed with the blog once I introduced him to it. When he resigned to holiday around Australia he asked me again for it.