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During the days of the Great Recession, rapidly falling home prices caused all sorts of havoc for our major financial institutions. Unfortunately, home prices are starting to plummet once again in many areas of the country. And just like during the last housing crash, we are also seeing a surge in foreclosure filings. That doesn’t mean that this current crisis is going to look exactly like what we experienced the last time around. But nobody can deny that there are a lot of alarming similarities between what we are going through now and what we went through during the days of the Great Recession.

Research from Zillow revealed that approximately 53% of all U.S. homes have lost value since last year, up 14% from a year ago.

`During the days of the Great Recession, rapidly falling home prices caused all sorts of havoc for our major financial institutions. Unfortunately, home prices are starting to plummet once again in many areas of the country. And just like during the last housing crash, we are also seeing a surge in foreclosure filings. That doesn’t mean that this current crisis is going to look exactly like what we experienced the last time around. But nobody can deny that there are a lot of alarming similarities between what we are going through now and what we went through during the days of the Great Recession.` `Research from Zillow revealed that approximately 53% of all U.S. homes have lost value since last year, up 14% from a year ago.`

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[–] • 0 pt

This is a very pedestrian understanding of what happened in 2008. The events aren't similar at all other than people are now underwater on their loans. 2008 happened because of subprime lending, ARM loans that people didn't understand, and banks bundling of securities. It all came together as one big cluster fuck. What we are dealing with now is a market adjustment.

[–] • 0 pt

The outcome will be the same, no?

Also you didn’t add in all the foreclosures from the deported shitskins. That’s going to have a ripple in banking with failed loans and no one that wants the property. Well besides black rock

[–] • 0 pt

The outcome will be the same, no?

No

[–] • 0 pt

Oh really so it won’t be mass foreclosures, empty property, price reduction and then a surplus?

What will it be?