What was the 2002-2007 housing bubble like?

I remember a family moved in across the street from us after buying the house for ~250k then turn around and move out barely 2 years later after selling it for nearly triple that.

So how do we get rid of the plague? We need to remove Rothschilds bank from our country. Maybe it will help our country become great again.

It's like the housing bubble we're in now only it wasn't nearly as bad

Currently there's no housing bubble. Prices are driven by increased money supply after The Great recession.

Even if we were in a housing bubble it doesn't come anywhere close to the one that led up to 2008

My mom was a real estate agent shortly before it happened, I remember having food in the house for the first time, luxuries we couldn't afford before. Then we were poor again. These days I can't find a house in my area for less than 850k but usually they are around 1.5 mill. They can set that price because one of Chinas million billionaires would like to live here and buying a house is a ticket in.

I lived in a nice white and (unfortunately) jewish neighborhood in socal. mcmansion type houses went from around 400k to about a million. a bunch of young families moved in thinking they had it made and then promptly lost their jobs and then the house. it was bad but no one really realized how bad it was until about 2009.

it was strange though. neighborhoods died with the crash. whites moved out and asians moved in and killed any sense of community that was left. they didn't bother to learn english and their spoiled kids acted like niggers.

It's seems like in Toronto the bubble has been burst.

uk.businessinsider.com/toronto-housing-price-growth-turns-negative-for-first-time-since-2009-2018-6

Chinese people still buying Toronto up tho.

I know, the one in 2008 wasn't nearly as bad as this one like I said

I lived in hard hit area. Seemed like 1 out of 3 houses was for sale. I think it hurt finance people the worst because I think it was a really overrated crisis.

Banks gave loans to everybody who wanted to buy a house
Even Niggers that never had a job 0 credit score
It was a giant scam that the government cashed in on

oh sorry, misread

im glad it purged real estate agents, if only for a few years

Shitshow extraordinaire spawned by Dodd-Frank and the democrats, designed to extract the real wealth of the nation and "redistribute" it to lowlife nigger subhumans and illegal spics. By design.

from January 2000 to July 2006, starting with Bush NWO leader's Housing Bubble, home prices surged 900%

Avg price of house around 1998 before globalisation and free-trade went full swing
>$180k in NYC (boros)
>$190k in Bay Area
>$150k in LA
>$120k in DC
>$140k in Sydney
>$120k in Melbourne
>$140k in Toronto
>$130k in Vancouver
>£70k in London

Avg price of house after 2004 massive free-trade/open-borders
>$800k in NYC (boros)
>$1m in Bay Area
>$600k in LA
>$500k in DC
>$900k in Sydney
>$700k in Melbourne
>$600k in Toronto
>$1m in Vancouver
>£400k in London
---------------------------------------------------------
before free trade:
>domestic production of goods
>goods were affordable and of high quality
>lowest cost of living
>affordable housing (house costs only 2 times the annual salary)
>90% white

after free trade:
>homeless/opiod/suicide epidemic/white genocide
>unemployment
>highest cost of living
>unaffordable housing (10-20 times the annual salary)
>plummeting life expectance
>shit quality products that kill you
>millions of illegal shitskin locusts invading and killing whites

>tfw when legitimately loking for a house to move my family into so we can stop renting
>perfect dream house listing goes up, schedule a weekend viewing
>realtor calls on friday to say the house is already in contract

FUUUUUCKIN JEWS!!

A drop in the bucket compared to whats to come.

It seems to me a lot more people are just hanging onto what they have, and less jumping from house to house.
I'm surprised many people here are convinced this is not just a big of a bubble. I guess the last one was driven by bad loans. But this one seems driven by extremely low interest rates.

pre-bush, housing was never a problem

before 2000s/bush NWO/globalisation, the US has ALWAYS had avg housing price = 2X avg salary

>before 2000, no housing problem
>globalists send industries/jobs overseas
>globalists open borders
>globalists push for "housing for everyone"
>import millions of locusts from asia/mexico
>hyperinflated housing bubble happens
>housing now a problem
>homeless epidemic
>millions of native homeless die from opioid epidemic

it seems like the globalists preemptively planned and pushed for "housing for everyone" in advance of open borders.
it was a stealth plan to house every locust invader while millions of natives go homeless
there was never a housing problem in the US before their NWO globalism

I would just like to mention how an identical thing happened in UK, which I'm sure is a pure coincidence, except instead of Asians/Mexicans we got sandpeople and niggers.

Nearly every home on my middle class street was foreclosed on. The area went from being semi nice with green lawns, maintained houses, fresh paved roads, maintained public spaces to a ghost town within four years. I look back on it now on Google maps and it still hasn't recovered. All the houses are dilapidated look like shit, all the decent businesses closed up, it looks fucking ghetto now.

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I was living in Florida at the time and I would drive by this little cuckshed every day. It was going for $200k at the time of the bubble.

Attached: 200k.jpg (1553x899, 250K)

no it wasnt. they changed the bad guys names from jewish to normal white names. its a cover up movie meant to shift blame away from jews

I cant really say. But i bought my house off a bank after it for 18k lulululul

>housing scam resulting in the 2007 bubble

the depressed economy (resulting from free trade sending indsutries overseas) was propped up by a housing bubble, which was created to house millions of illegals.

the govt and financial institutions provided a "bail out" to the people in the form of low interest rates and lax regulations. the lack of job opportunities in the depressed economy forced people to exploit new career incentives created by financial institutions and govt focused on real estate speculation. with everyone speculating in real estate through "free money", the bubble burst.

bump

everyone thought they could make it rich "flipping houses" because houses were going up in value regardless of if anything was done to them are not. people would buy a house, make a few minor repairs and sell it a few weeks latter for tens of thousand more than purchase. it all came tumbling down though

i don't know any retards who were financially destroyed by it but i did see lots of people get caught up in the refinancing to add a hideous addition meme. so many nice split levels in the area ruined with obnoxious game rooms protruding like tumors.

which names? greg lippman, Steve Eisman, Peter Schiff and Roubini?

>real estate is a good invest-

lmao low IQ boomers thinking they will be rich flipping houses because they watched a show on HGTV

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speaking of opioid

>send industries/wealth to asia
>economy collapses every 5 years (planned by globalists)
>massive layoffs every 5 years
>import millions of shitskins to replace those natives layed off
>impoverished natives get health issues
>get bankrupt by medical bills
>go homeless
>get on heroin
>overdose
white genocide was never as easy as this

meanwhile trafficked poojeets/chinks are now the highest stolen income earners from the whites that perished under the globalist white genocide scheme

I was very young; my father lost his job and so we could only afford food and essentials. Very occasionally there was literally nothing in the pantry.

It feels weird being able to regularly go to the movie theatre now (but I am boycotting Hollywood anyway).

bump

>free trade, open borders goes full swing
>transfer jobs/industries/wealth overseas
>no domestic jobs results in depressed economy
>govt and financial institutions provide a "bail out" in the form of low interest rates and lax subprime regulations
>depressed domestic economy propped up by a housing bubble
>lack of opportunities (due to free trade) forces entire country to exploit and speculate housing market thanks "free money"
>bubble burst
>great recession
>bubble reinflates with "free money" Quantitative Easing to recover from previous bubble caused by Free Trade and Open borders

free trade and open borders DOOMED the west

kinda like the one we are having now. lol

True, the entire globalism meme is because the entire economy and finance system is constructed like a ponzi scheme that needs to grow infinitely so you can pay the every growing interest on the debt. They needed more consumers so they collapsed communism and opened up the eastern bloc countries, began the mass immigration meme, then china joined the world trade organization in 2000. But now even China has reached the limits on debt and is undergoing demographic collapse

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They were basically giving loans to anyone, even NEETs.

Just sold my house I bought in 2008 for $850K for $1.4M & bought a new house for $1.3M in cash. No more mortgage.

the Rust Belt and decline of American industry started in the 1970s as a direct result of American globalist policy of transferring jobs, industry, wealth to Asia (Taiwan, Hong Kong, Korea, Japan, China, India...)

free trade and transfer of industry to Asia/mexico is the reason for suicide/homeless epidemic, open borders, mass migration, hyperinflated housing bubbles, subprime mortgage bubbles, Great Recession, Quantitative Easing, and all our economic, social, and military problems

>america sends industry, wealth, jobs to asia
>no domestic jobs
>recession 9.0
>rust belt happens
>hyperinflation rising cost of food, oil, products, houses
>businesses import 3rd world slavelabor to offset rising cost
>cost of housing, oil, food surges even more
>homeless, suicide, opioid epidemic

there was no housing crisis. they wanted opened the borders and gave every illegal a house thru "housing for everyone" subprime policy that was pushed by globalists/bush

housing became a problem after free trade/open borders.
when they let in millions of locusts.
this is when we had to house millions of shitskin invaders from asia/mexico. so housing became a problem thanks to open borders and free trade.
now we have millions of homeless natives. NOW housing is a problem

see

Dunno. I was in college, getting ready to graduate with a job lined up. All I remember was boomers and uneducated retards that couldn't pay their morgages running around screaming that their money was on fire when they never should have been given loans in the first place.

The moment after was comfy as fuck cause literally all houses were dirt cheap.

Will happen again soon now that your seeing loans yet again offering with only 0.5% down again.

agree

>1980s
>Mortgages are a boring industry
>dude has great idea: securitize mortgages so they're easier to buy and sell and average investors can get a piece of the action
>absolute hit
>mortgage desk becomes the hottest job on street
>eventually all the good borrowers have homes
>lol.jpg thats ok because diversification and the slightly risky borrowers get benefit of cheaper interest rate
>adustable rate mortgages also invented around this time
>let more people get homes
>fed and regulators willfully ignorant to all the shit going down or asleep at the wheel
>more and more dogshit mortgages being made and sold off to investors
>at some point, this thing called a collateralized debt obligation (CDO) was made to sell off all the shit that the banks couldn't sell normally
>then came synthetic CDOs (dont even ask me how they work - they're basically leveraged bets on CDOs)

Now this is the shit they don't tell you in the big short

>bunch of (((geniuses))) realize what the fuckards on wall street are doing and it cant go on forever
>buy insurance on these bonds called "Credit Default Swaps" (CDS's)
>banks think "oy vey easy money, who defaults on their mortgages"
>sells shittons of these
>keeps the liability to pay up should the bonds default (basically taking the bond position, but not as obvious) on their balance sheet
>rates start to rise
>Lolwut.gif
>defaults start to rise
>lol its ok, we price these anyway
>banks either ignore it or look for a patsy
>insurance companies
>when bonds start to default, everyone gets absolutely fucked by the shorts

Tldr; the (((shorts))) are no heros

good post

until 2000, avg housing price was always 2X avg salary

the idea that a mortgage for most of the value of the house is normal is a new one. typically people saved as much as possible and bought a cheaper, smaller house with as little financing as possible. this "starter home" was lived in for several years at which point as their incomes and equity increased they would upgrade to a better house because they could pay for it.

According to wolframalpha 3.3k 1950's USD when scaled for inflation equates to about 34k today. Notice that the median home went from 2x family income to nearly 10x family income. That is untenable and will lead to loss of social cohesion.

Before free trade, My boss, graduated STEM in mid-late 80s. His starting salary was 45k.
Today it is the same. Yet price of everything has surged 9000%.

He bought a house in LA for $70K the same year he started work.
He bought US-made Commodore computer back then for $700

he could buy a brand new car and pay it off in 2-3 months. He'd buy a new one every year for work because they were so cheap

with prices like that mortgages were barely needed.
houses were 2X the income, you could save for a house within 5 years.
people started working at 16, saved up $10k every year, and had a house by 23.
thats how things were back then, son.