Parallels with the 80’s housing crash…
Ok, my first post.
I really appreciate the info provided on this site & insights from people far better read / schooled on the subjects than I am. I think we should try & get Chris on show’s like the Daily Show with Jon Stewart. I know it’s a pseudo ‘comedy’ show but I respect the host for his willingness to present ideas that aren’t always ‘mainstream’….a discussion better left for another thread.
A note of concern that I’m seeing echoed in this site with others is the more ‘anarchist’ type posts lately. While I definitely find all points of view enlightening I would hope that not all threads are ‘hijacked’ by such talk as ‘ you’d better be preparing for the end of civilization or there’s no point in talking’ type of comments.
Anyway, onto my focus in the subject. There is much important discussion about where things will ‘end up’ ie depression or anarchy but I am also looking to make the best choices between where we are now & where we might end up.
Has anyone (who has knowledge of how the 80’s housing crash played out) looked to see what & if the parallels are with what is going on now? There are obvious scale differences & I acknowledge that the situation now is FAR WORSE but again is there some useful ‘roadmap’ information that we can use to guide & protect ourselves along the way for the eventual changes that will come….ie from collapse of the housing market –> higher unemployement –> ridiculous inflation.
What were the indicators that things were getting worse? How do they compare to now
What did the banks do then? What did people do?
What did governtment do to try to ‘help’? Did it help or make it worse?
What were the signs that housing had bottomed? Where did it fall to as compared to pre bubble?
I’m looking into this now as I think that useful lessons may be drawn to help protect myself financially down the road but I thought I’d tap into this site & see what people think.