I'm re-posting from HL but I'd like to know how you've handled the last 10 years.
LONG READ! But worth it
LONG READ! But worth it
A decade after the 2008 financial crisis: How are you doing, Coli fam?
- Thread starter FAH1223
- Start date
BlackPrint
The Mayor
I was too young to be affected but the one thing I noticed.
a "stack" in 2007 was $10,000
Sometime after 2008 it became standard that a 'Stack' was $1000.
a "stack" in 2007 was $10,000
Sometime after 2008 it became standard that a 'Stack' was $1000.
Toe Jay Simpson
Searchin’
I invested in an apparel company specializing in ski masks
The deep meaning here is just 
Yo...
R.E.N. Spells Ren
Veteran
A stack has always been $1,000 round here.
I was only 14 at the time, but if a event like that were to happen again, I want to be one of those people who were buying up cheap foreclosed homes and flipping them for a profit. Those dudes are probably rich because of that. Gotta stay ahead of the game.
R.E.N. Spells Ren
Veteran
I graduated college in 07, went to grad school for a couple years to weather the storm that was the job market then. Naturally, I'm doing great compared to 07. 
BlackPrint
The Mayor
Yeah I'm from New York so, you know..
WaveCapsByOscorp™
2021 Grammy Award Winner
I have to admit, I was still in college so economics, for me personally, was wishy washy to begin with. Some interesting articles you posted though...
That's what contributed to the problem back then though. There was an influx of housing being flipped and not enough to sustain that market. The flippers weren't breaking even in some cases; the money being invested was not equating to a profit for those types of buyers. Then you had the ARMs (adjustable rate mortgages) and balloon payments, people being underwater with their mortgages, increase in renters, foreclosures ... it was all bad.
How Tales of ‘Flippers’ Led to a Housing Bubble
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There are places that still haven't really recovered. There were 10 million foreclosures and companies like Blackstone and other investors bought these properties up. Creditors got bailed out but regular people's mortgages weren't written down to manageable levels.
So now in America we have a crisis. Home ownership is down... more and more people are renting, rents are going up with that.
It's a bad spot.
If The Dave Ramsey Show is a good representation of the average American home, we about to see another collapse in the near future. Folks in debt like crazy.
I was a sophmore in 2008-2009
4 years later, I was helping my parents short-sell the house. They signed up for that HAMP program, they were really underwater on the house. But then after a 2nd modification, they didn't get the amount per month they needed and they weren't paying down the principal anyway.
Eye opening experience to work with an agent and have to deal with Wells Fargo.
Ya' Cousin Cleon
OG COUCH CORNER HUSTLA
been broke most of my life, i was decent, moms is a nurse and she was straight.
