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re: Being "recession proof"
Posted on 7/8/13 at 6:19 pm to rintintin
Posted on 7/8/13 at 6:19 pm to rintintin
quote:
Did anyone here get hit hard in real estate?
I know some people here in ATL that got blown up in residential investment RE using ARMs and a lot of homeowners who are still upside down today. I know one woman that bought a bank short sale thinking she was getting a great deal in 2009 and it declined another 30%+. Then again, ATL was home to terrible lending practices and lax oversight which caused the area to have one of the highest bank failure rates in the US. The RE bubble here was easy to see, especially when one looked at terrible loan products like Wachovia was pushing or the insanity of the community bank lending standards. Look up Wachovia's stock price today, you won't find it, either, as WFC took them over. Morons gonna moron.
1
Posted on 7/8/13 at 6:45 pm to tirebiter
Isn't the Atlanta market "booming" again? Do you see the same thing happening there?
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