https://thegreatrecession.info/
David Haggith is the publisher/editor-in-chief of The Great Recession Blog.
Seeing the Great Recession Before it Hit
My path to writing this blog began as a personal journey. Back in 2007, my (now ex) wife had a family home that was an inheritance from her mother, which she and her brother had been holding onto for several years because real-estate was always appreciating. I worked as a resort property manager back then, and I was certain from my own observations in the industry and from my readings that the U.S. housing market was on the verge of catastrophic collapse. Even though real-estate agents I talked to thought I was nuts, I urged my wife to press her brothers to sell the family home before prices collapsed. They eventually complied and sold the home just three months before Bear-Stearns made it obvious some deep financial troubles were brewing, taking the U.S. housing market down for the tumble. Her family sold near the peak of the market. I realized, then, the value of urging people to take actions based on what I believed would happen.
Why should I have known the housing market and banks would crash when Al Greenspan, Ben Bernanke and the Federal Reserve board members clearly did not?
Liked it? Take a second to support David Haggith on Patreon!
More From David Haggith
February 17, 2023
Stocks Seek New Religion in Effort to Rise from their Decline, but Where’s the Beef?
February 15, 2023
Of course, Inflation Wasn’t Hot at All! (It was hardly even horrible.)
February 08, 2023
While Biden Talks State of the Union, I Talk State of the Economy, and it’s Not as Good as Biden Is Going to Tell You
February 05, 2023
It Was a “Wow! Wow!” Bow-Wow Dog of a Doozy Week for Jobs!
January 25, 2023
2023 Prediction: The Fed’s Inflation Fight is FAR from over!
January 19, 2023
Retail Tales Tell a Bad Story about the Economy