In Sowell's video, he represents a few main factors that lead to the bubble in the 2000s housing markets. These factors would be: government policies pushed home-ownership, which lead to a people lending money to higher risk borrowers; banks had relaxed lending standards and issued subprime mortages; the government backed these relaxed banks for them to keep loaning out money; the interest rates were at a low in the 2000s; and people bought houses at a higher price expecting them to keep rising, and make a profit off of them.
Murphy's video primarily had points that argued of the unseen affects of the government intervening. These points would be: people focused on the immediate benefits and not the long run; the resources used by the government were pushed to this rather than things needed elsewhere; the government spending didn't lead to new wealth, but distributed it instead; and their policies could be good at first-glance, but have hidden harm that causes ripple affects later.