People compare this downturn to the 1970's - what do you guys think?
Answers
180 points
musti answered one year ago …
Well, at that time all I knew about were fixed-interest investments.
But this downturn certainly is different, alone by the fact that the environment has changed a lot. Lack of information has become information overload, powerful new players like hedge fonds have entered the scene, investing has become much more global, complicated derivatives abound...
History might repeat itself but "past performance is no guarantee for future results" ;-)
678 points
BoxCar answered one year ago …
Housing is Topsy-Turvy compared to the 70s when anything you bought went up like
gang busters- Now the bubble has deflated. Go to "www.zillow.com" and pick any
property address to see a chart of how values plateaued in 2005 and are in decline.
Also in the 70s there were well paying jobs so people could pay mortgages. Not Now
