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guess I was really wrong... I just figured if you lived in a smaller town where home prices didnt double and triple over the last decade then prices would be more stable and given the lower cost of living you wouldnt feel much of an impact on the whole as for the most part people are already living below their means.
I don't believe any place is necessarily safe from a recession. Our last recession was caused by a real estate bust, yet Detroit, a place with no real estate bubble, was one of the worst effected.
College towns were the least effected in this last recession but what if the next recession has something to do with the student loan bubble bursting? Those town will collapse into ruin when the easy credit lines go away.
I don't believe any place is necessarily safe from a recession. Our last recession was caused by a real estate bust, yet Detroit, a place with no real estate bubble, was one of the worst effected.
College towns were the least effected in this last recession but what if the next recession has something to do with the student loan bubble bursting? Those town will collapse into ruin when the easy credit lines go away.
This is impossible to predict.
An impending Ice Age would occur before the collapse/ruin of American higher education which has survived the Great Depression, World Wars and other historical crises.
An impending Ice Age would occur before the collapse/ruin of American higher education which has survived the Great Depression, World Wars and other historical crises.
People said the same thing about the housing market. "You can never lose money on property!!!" If I had a nickle for every time I heard that growing up in Florida I would have more equity than the people saying that nonsense after their housing values crashed to the ground.
Last edited by CravingMountains; 09-05-2014 at 01:46 PM..
Unlike Americans who are eternal, hopeless optimists, I see not only recession, but economic and political collapse upcoming, and in the 2020's I see the country falling apart into civil war.
Broadly speaking, I think the upper west coast/PNW, the midwest, and parts of the northeast will fare better than the southwest (drought, global warming, mexican invasion), and the southeast (global warming, poor, division between rednecks/blacks, hispanic caribbean invasion).
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