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This is the first post of three.
I've been watching the US Housing Market and Financial Market meltdown over the last year, because 1) I'm kinda a finance geek, like everything else I'm a geek about; 2) My friend![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)
src has been screaming about it fairly continually, based on Nouriel Roubini's work; 3) I've been jonesing for buying a house, and watching the market to understand when would be best to do soi. By the way, I have leaned heavily on Wikipedia as a reference source for this posting; if you can stand it, I recommend the articles on the Subprime Mortgage Crisis and the Great Depression. They are both quite illuminating, if not a little disconcerting. The XKCD-style animation of 'what happened with subprime mortgages' is also both entertaining and informative (although it won't explain the rest of the crisis, and is strongly biased toward the explanation that 'it is all evil lender's fault')
( Read more... )
This post has gotten really long, but there's more coming later today.
I've been watching the US Housing Market and Financial Market meltdown over the last year, because 1) I'm kinda a finance geek, like everything else I'm a geek about; 2) My friend
src has been screaming about it fairly continually, based on Nouriel Roubini's work; 3) I've been jonesing for buying a house, and watching the market to understand when would be best to do soi. By the way, I have leaned heavily on Wikipedia as a reference source for this posting; if you can stand it, I recommend the articles on the Subprime Mortgage Crisis and the Great Depression. They are both quite illuminating, if not a little disconcerting. The XKCD-style animation of 'what happened with subprime mortgages' is also both entertaining and informative (although it won't explain the rest of the crisis, and is strongly biased toward the explanation that 'it is all evil lender's fault')( Read more... )
This post has gotten really long, but there's more coming later today.
