I saw The Big Short this week. Best movie I have seen in years at the theatre. I'll qualify that as I do not see many movies at the theatre. I'll further qualify my review by saying the movie fascinated me especially as we were able to watch the subject matter unfold in real time only a few short years ago. To this day your average schmuck on the street, in fact quite a few above average schmucks as well, have no idea how close we came to falling into a worldwide economic abyss. Anyone here on the Shed have any real estate or financial stories related to the recent housing crash / Great Recession?
>have no idea how close we came to falling into a worldwide economic abyss. What makes you think that we avoided such a calamity? Trans-oceanic shipping is virtually at a standstill. The "Fed" prints money like crazy and the microtrading professionals on Wall Street make money enough to buy gold-plated sports cars, but the average fuck on the street hasn't seen any "recovery" identifiable as such. We enjoy endless war for the benefit of our military-industrial complex. Our debt is staggering.
Absolutely agree. Bailing out the banks, car companies, home owners, etc. has succeeded in reinflating asset prices and stabilizing the economy to a degree. But at what cost? When the current debt bubble pops - hold on tight. The fed has no more ammo. Perhaps negative interest rates. Maybe print Euros and Yuan instead of dollars? Knowing what's lurking out there and perhaps not knowing, I understand the prepper mentality sweeping our country. A tell for me is the fact I am receiving some 20+ credit offers in the mail each week - on par with 2005-2006. It can't go on indefinitely.
I thank myself for not joining the Revolution and buying SIRI when everyone was getting in at 5 and change. Even thought they were on life support I kick myself still for not gambling and buying some Ford when it was below 2.00.
I liked it too, but thought "Spotlight" was a better based-on-a-true-story awards season movie. My main problem with The Big Short was Brad Pitt. In all the movies he produces he makes himself the fucking Messiah (see: 12 Years a Slave, World War Z, etc). Steve Carrell was surprisingly good in it, Christian Bale was amazing.
I came very close to pulling the trigger. I know a couple of people who did and rode it for a few years hoping and wishing the Stern hype would pay off. Finally dumped it. A lot of BS with the true players going on in the background with this one.
I bought a house in MA for $550K ... sold it for $400K. Thanks for asking. I think I'll stick the gun back in my mouth now.
I really liked the movie and as a non-financial person was able to finally understand the term 'credit default swap.' And something tells me Christian Bale was playing himself (minus the genius part). I also enjoyed the HBO movie "Too Big to Fail." I do wonder what would be considered the pivotal point in our history where rampant greed overtook corporate America? In the 80s a friend worked for Drexel Burnham (I believe they created the junk bond? Not sure) -- starting salary $11K, and her bonus was TWICE that. For entry level work. Something wonky about that.
Wigs is always been hype. Also has the perfect audience to buy into it. Look how many people would come out to his rallies, esp. the last one/move to (now) SXM. All it ever does is serve Wigs self interests and pockets.
So the average price of a house in Las Vegas was $130K in 2012? Wow that's cheap. I don't make much money, but I could make that much in a few years... ('Course I would never live there, the heat's unbearable to me)
My sister bought and lost both an apartment (when single) and a house (with her husband) in the span of, I dunno, ten years or something. Not shrewd with her money. They're renting now.
