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bank collapse '23

kidwoo

kidwoo

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Aug 25, 2003
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Toshi said:
fun fact: I rented until 2015
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You were also moving around a lot before then.

then what were you stressing about?

Your potential house purchase was cheapening by the day

I'm even going to be very polite here and not bring up the fact that you bought two of the fucking things within 5-6 years.

Surely it wasn't the concern over others being foreclosed upon.....I mean...you're a doctor. ;)
 
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Toshi

Toshi

Harbinger of Doom
Oct 23, 2001
38,322
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kidwoo said:
You were also moving around a lot before then.

then what were you stressing about?

Your potential house purchase was cheapening by the day

I'm even going to be very polite here and not bring up the fact that you bought two of the fucking things within 5-6 years.

Surely it wasn't the concern over others being foreclosed upon.....I mean...you're a doctor. ;)
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jonKranked said:
Wait I bought a house before you did?
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I finished fellowship in 2014, about -$200k net worth at that fine moment of finally being able to get a real job at age 32.

So I was in no position to do anything but rent (and live at the MIL’s place and commute across town) until then.
 
Toshi

Toshi

Harbinger of Doom
Oct 23, 2001
38,322
7,744
kidwoo said:
"net worth" :rofl:

come on man, I know doctors, I know what that process involves. You were just starting but you were never setup to be someone who couldn't afford a house...quite the opposite, berkeley
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This is true, I've done fine.

But the point is that in 2009 when I was marveling at property values plummeting it wasn't because I was worried about my own properties. Because I owned nothing.
 
kidwoo

kidwoo

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Aug 25, 2003
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Toshi said:
This is true, I've done fine.

But the point is that in 2009 when I was marveling at property values plummeting it wasn't because I was worried about my own properties. Because I owned nothing.
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Fair enough. I'd assumed the thing that everyone else was doing, so I apologize.


It was a bad example to mention in my response to westy.
 
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Westy

Westy

the teste
Nov 22, 2002
54,444
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Sleazattle
kidwoo said:
View attachment 190950




You want me to dig up brain's posts from 2009ish?

That's when he sold his tahoe house and "suffered"

It's when toshi created the real estate thread because his house value not continuing to skyrocket is 'suffering'

I don't want people in ditches, I want the petty bourgeoisie to curb their bullshit discretionary spending and fuck off back to their own damn cities.


and to watch them hand wring over mUh iNvEsTmEnTs......that shit is always funny
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It was the 2009 crash that ruined a bunch of people who lost the homes they lived in and allowed the investor class to swoop in and buy them up. AirBnB existed before then but didn't take off until after the crash.
 
kidwoo

kidwoo

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Aug 25, 2003
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Westy said:
It was the 2009 crash that ruined a bunch of people who lost the homes they lived in and allowed the investor class to swoop in and buy them up. AirBnB existed before then but didn't take off until after the crash.
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Oh I'm well aware. I live in a hotbed of all of the above. I also remember this place existing as a community without millions of douchebags up here trashing the place for about 5-6 glorious years. Why? Because everyone perceived their investments to be faltering. It was fucking beautiful.

I think it was the mass investment buying of foreclosed real estate, incentivized by things like airbnb, that created the model that's driving a lot of the current home price insanity. I've said it a million times, we don't have a housing problem, we have a free market occupancy problem. The covid driven urban escape just turbo charged it.

But this collapse won't be like that. This isn't all over-leveraged loans that shouldn't have been made, much less the bundling product that they became, making issuing them even more incentivized to issue with no 'downside'

I'm just excited to see how this one takes shape. Especially because of the particular 'industry' involved. What I'm not excited about is just how fast our shitting gov't bailed these assholes out. Our children isn't learning.
 
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SkaredShtles

SkaredShtles

Michael Bolton
Sep 21, 2003
65,741
12,761
In a van.... down by the river
kidwoo said:
<snip>
But this collapse won't be like that. This isn't all over-leveraged loans that shouldn't have been made, much less the bundling product that they became, making issuing them even more incentivized to issue with no 'downside'
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Have you considered a career as an executive at a finance company? 'Cause you've got buzzword bingo NAILED. :D

ETA: Perhaps figure out how to work in "synergy" and "monetize our assets" as well.
 
kidwoo

kidwoo

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junkyard

junkyard

You might feel a little prick.
Sep 1, 2015
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I have an account at pac western, one of the banks whose stock is crashing. I’m not worried because I only have a couple grand there. I have gotten two emails from the CEO basically saying “trust me it’s all good” but I read “don’t do a bank run on us”. Fucking funny shit.
 
kidwoo

kidwoo

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Aug 25, 2003
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Pesqueeb said:
I've hit my head a number of times so forgive me if my memory is faulty, but wasn't it not all that long ago that basically the inverse was true? I'd hate to be holding that bag.
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it was up to 60 something thousand during the pandemic and then crashed spectacularly when all the NFT bullshit did, although not as badly as the johnny come lately crypto shit that had far fewer built in protections.
 
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