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Re: Doomers and Bad Assumptions

Unread postPosted: Sat 07 Jul 2018, 22:43:12
by Pops
Would I have been "smarter" if paying closer attention? Frankly, I don't know how to tell, after the fact.

I somewhat overreacted. I was pretty doomy when we bugged out in '04 behind PO and BushCo and tell the truth I was ready to go. At that time it was clear in CA at least that the bust had accelerated real estate inflation rather than hampering it. People were refinancing every couple of years, I refied once down to a 15 year loan from about 25 left and I could have taken out 100% of what I paid 5 years before, all with one form, basically over the phone. I was 40-something and had seen cousins go BK on negative amortization loans 20 years before, it was obvious that the banks were on a tear.
But like I say, I'm kind of a doomer.