Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

rational_democrat

(18 posts)

3. ...

Reply to NNN0LHI (Original post)

Thu May 31, 2012, 06:58 AM

May 2012

I mean the story you just told describes two people who are heavily invested in the real estate market with their jobs and assets. While the housing market was booming they were rolling in cash and when it crashed they were hurting for cash. This is typical for people in those industries and with expensive homes but it is not typical for everyone. For example a upper middle class financial analyst who is 32 and living in an apartment when the crash happened could have had a great chance at keeping his six figure job and snagging a very cheap home on the crash of the market.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

6 replies

= new reply since forum marked as read

Highlight:

Since the 6 recessions I have lived through I have figured out what is different about the last one [View all] NNN0LHI May 2012 OP

Sort of JustAnotherGen May 2012 #1

Could not say it better malaise May 2012 #2

... rational_democrat May 2012 #3

The real difference: legislative gridlock, politics before the country mainer May 2012 #4

This bubble was grounded in real estate in every way. None of the others were. DCKit May 2012 #5

No Don it doesn't. GeorgeGist May 2012 #6