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I love these finance articles. It’s like asking “could this recession be as bad as the 1930s?” Like sure the stock market may fall that much but will a reducti
by hnews_account_1 4y ago
I love these finance articles. It’s like asking “could this recession be as bad as the 1930s?”
Like sure the stock market may fall that much but will a reduction in output cause THAT much hardship? Likely not. But if you don’t write a tantalizing title no one will open your article and make you money.
Could the house prices fall as much as 2008? Sure. Will the economy stare down the abyss to the end of modern civilization like it did in 2008? Much more unlikely.
- mjthrowaway1 4y agoSource: trust me bro I’m on the opposite end of this with the same source. Not assuming that since we lived through ‘08 that we’ve “seen it all”.
- hnews_account_1 4y agoI’m in the field. I likely know more about it than you ever will. So yes, trust me bro. Or don’t. It’s a free country.
- mjthrowaway1 4y agoI’m in the field as well. I own/manage multiple commercial properties. It’s in my post history. Your comments are low quality and do not give me the impression that you’re experienced in RE.
- hnews_account_1 4y agoThat’s because I’m not in real estate. I’m in finance - which is what my comment is about. Notice how I have no opinion of housing prices, only their effect on the system. In simple terms, I understand loans, debt and derivatives. Not actual real estate.
- dont__panic 4y agoI despite clickbait as much as the next HN commenter, but I thought this article rather substantive. From rent statistics to observations on unemployment to investor housing purchases to speculation on the high-price high-interest rate market behavior, I learned quite a bit. > Will the economy stare down the abyss to the end of modern civilization like it did in 2008? That seems a bit melodramatic to me. Did we "stare down the abyss to the end of modern civilization" during the worst, early, unvaccinated days of COVID-19, amidst George Floyd-inspired protests? Did anyone think 2008 was some kind of "end of days" scenario for civilization, instead of just desserts being served up to unwise overleveraged homeowners and investors? I feel like it was always limited to the economic domain, but I was pretty young at the time, so maybe I missed the worst of it. The housing and rental markets are absolutely insane at the moment, in a way they've never been before in our country. My old boomer relatives made a killing over the last few years in house price gains. My young friends and family in their 20s are struggling to pay rent, much less afford (and find) their first home. I think it's interesting to look into why the markets are so insane, and if the bubble could burst soon.
- hnews_account_1 4y agoLol the lack of finance education on this forum is a daily source of mirth for me. We were absolutely staring down a hyperinflation apocalypse in 2008. There were hundreds and hundreds of self congratulatory articles written about how the people at the top saved us. Please, for a moment, use google and read something.
- cool_dude85 4y agoThe guys in charge of selling bank bailouts wrote a bunch of articles saying that bank bailouts saved the world. Why would I need to google an article to understand why they'd do that?
- hnews_account_1 4y agoBecause you clearly have no idea what you’re saying beyond the surface idea of “S0c1alizing L0s53s bAd”. Depth of knowledge is always and everywhere a good thing. Strive for it.