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
June 06, 2022
The Real GDPig was a Whole Lot Uglier than it Looked!
June 03, 2022
The Retail Apocalypse was Bloodier than it Looked
May 02, 2022
How Bad Was the Stock Crash for April Fools?
April 29, 2022
US Economy Crashes Headlong into Recession!
April 26, 2022
Federal Reserve Crashes Plane in Route to “Soft Landing”