1. Everyone anticipated property values would keep rising.
2. Everyone took out home equity lines and bought shit they couldn't normally afford with their normal income.
3. Average people were buying second and third houses and pulling credit from them.
PEOPLE THOUGHT THEY WERE BALLIN', BUT THEY WERE NINJA RICH.
THEY HAD LIQUID ASSETS. LIQUID AINT' SHIT, UNLESS IT HAS A ALC.% OR SQUIRTS FROM A BEAVER.
THE WELL DRYED UP, WE WERE GREEDY, BANKS/LENDERS/GENERAL PUBLIC.
WE ARE REAPING WHAT WE SOWED.
BACK TO BASICS. BACK TO HUMBLE, LEVEL HEADED AMERICA.
We will be better for this. Oh BTW, we would have recovered pretty quick from this mess but Obama is a liberal chonch.
I am one of those people that was really kicking ass. My business was booming. I had enough money to do everything I did during that time. Hindsight is 20/20. But, I should have had more money in the bank, or stashed under the mattress for a rainy day. Instead I spent like it would never end. I ended up losing an investment home. No sweat, my credit score sucks now, but I'm still living and I never go hungry. I am less attracted to possessions. And I really like living without that attitude. Friends, family, and holding shit together with duct tape. Let's have a drink!