Even for those of us who had good stable jobs, the crisis was scary as hell.
Stock market down 54% in less than 17 months.
Even with regular cash flow, I stopped buying stocks.
Yes the recovery has been strong but it wasn’t clear it would happen.
A correction in home prices as necessary but the crisis went well beyond that.
Back in ’03-’06, I thought perhaps prices would pull back 10-15%, even 20% would seem extreme. But I didn’t think we would get to below replacement cost (i.e. free land) and for a while it was almost like that.
Even years later, there were bargains in real estate, but each of those caused real pain for the families who lost their homes even if they bore a significant portion of the blame by being over leveraged.
In the mean time, don’t go down the road of USA makes nothing as we prove that wrong every day. There is so much industry in SD County, do some research in the companies like GKN Aerospace, General Atomics, Dexcom, Northrop.
The list is long and very amazing and great people do things here everyday.
My company exports to 40+ countries and yes it’s not easy but that’s life.
