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Personal History Discussion: The Great Recession

reactions 2008 2009 Great Recession economic collapse 2007 recession bank failure housing bubble subprime derivatives

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#21
Yuli Ban

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Wall Street is Scrambling to Avert a Crash

 

Here's a Reddit thread from July 3rd on the Recession.

 

Well, it's July 3rd.


And remember my friend, future events such as these will affect you in the future.


#22
Yuli Ban

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Dentists hit hard by economic recession

 

How Has The Recession Affected Your Life? (employee, debt, collecting)

 

People of Reddit, How did the "Great Recession" affect you?

 

Old people: share stories of 2008 when the shit hit the fan

 

Electrician - A Recession Proof Career?

 

For those who were in the stock market during the 2008 crash, how were you reacting during the nose dive that occurred during the second half of the year?

 

Fellow Redditors: Will your job survive the coming recession?

 

Living at home after graduating college....

 

A few articles

 

Recession hits recent graduates

 

The Curse of the Class of 2009

 

Unemployment Rate High: The Worst Time to Graduate from College


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And remember my friend, future events such as these will affect you in the future.


#23
funkervogt

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I remember how overheated the housing market and economy more generally speaking were in 2005. It really did feel like the quiet before the storm (today, I slowly feel the same thing building back up). 

 

I remember in mid-to-late 2008, when the other shoe dropped, every day there was some new crisis meeting to try to save the banks, and unemployment numbers were very rapidly growing. Watching the news was scary, and there was constant, nervous speculation about how bad it would get before things bottomed out. 

 

The Great Recession directly impacted me because I graduated college in mid-2010, right into one of the worst job markets in decades. I had to move back home with my mother for a few months to save on rent because I couldn't find a good job right away. But in the end, it worked out for me. 

 

My cousin lost his cushy job thanks to the Great Recession, and he never really recovered. To this day, he's never had a job as good as that, and only in the last year has his house recovered the value it lost thanks to the housing bubble bust. I also worked with a middle-aged guy who was stuck with a four-hour roundtrip commute because the housing bust devalued his home so much that he became underwater on his mortgage. He couldn't sell the place without losing a lot of money, so he had to wait years for its value to rise. In 2015, he finally moved closer to work. 


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Also tagged with one or more of these keywords: reactions, 2008, 2009, Great Recession, economic collapse, 2007, recession, bank failure, housing bubble, subprime derivatives

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