We need a catchy title for the RE crash. Americans like catchy phrases. The Great Depression is descriptive but not very interesting. The same goes with the S&L Scandal. Black Tuesday is my favorite. Why don’t we try to come up with something good and see if the media picks up on it? Here is your chance to be famous!
I submit The Big CREME (Cold Real Estate Meltdown).
This answer isn’t much fun, but I believe the real estate crash will probably be blamed on and named after the “event” that causes it. For example, the stock market crash 0f 2001 is frequently blamed on 9-11 even though it began well before the world trade center attacks. People I work with go so far as to refer to the stock market crash as 9-11.
The Bird-flu-scare crash or Oil-shortage crash could be boring candidates, but you never know what the next cause will be blamed on.
I vote for the Tom-Hanks-didn’t-get-an-Oscar-this-year-because-the-Davinci-Code-sucked-induced-recession causing the real-estate market panic of 2007.
The real estate crash is just part of the overall economic decline.
So we need a REALLY BIG title for the global economic meltdown that may be underway.
Perhaps the “Great Economic Meltdown”?
After all the fools have been separated from their money and the un-payable debts have been wiped away, I hope we will be talking about “The Age of Financial Reason”.
Well, if this IS part of the second great depression, then maybe we will just do what we did with the world wars: The Great Depression will become Depression I, and this will be Depression II, as World War I used to be known as ‘The Great War’ until we decided to have another one.
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