Watch a interesting movie last night on ..........

[General Ray]

HBO, "To Big To Fail"

I'm no expert on these things but man, if this movie based on the book by Andrew Ross Sorkin is anywhere close to the truth now I know why my IRA damn near went out the window in 2008 and 2009. I watched the news like everybody else at the time this was happening and followed my IRA as it fell into the toilet but after watching this movie now at least I have a sense for what happen and was happening and still could very well happen. I was warn by my friends, (The small town builder's) in Wisconsin as early as 2006 to get out of the building trade because banks would start failing because of non-payment and the bubble was about to bust and bottom out, the builder's saw it coming, loans being given to people who couldn't make the payments.

I jumped ship after 20 years in the building trade in Wisconsin in 2007 and left Wisconsin, left my home with everything still in it and put it up for sale and headed south to Alabama to take a job in a different area with only my El Camino, Cat and what I could get into it as far as personal things. I got lucky and my home sold that Oct just before the bubble bust, talk to my friends back in Wisconsin all the time and they are still hurting for lack of building trade work, some just hanging on!

Like I said, I'm no expert but did listen to the real experts (The small town builder) who saw it coming before the investment banks and our Government and it did come and almost tanked this country and still may, I hope not!

Here is a trailer 19 minutes long of what they say went down in 2008 when the bubble finally bust, I found this movie very interesting and is it true, I don't know but it seems the (Small Town Builder) in Wisconsin saw it coming and it did, it made me realize that I am not even a small dot on the map and have no control of what happens to me regardless of how hard I work and do things right and plan for the future, well I'm trying to change that now and trust nobody.

http://youtu.be/wVV6dzDOgQ0

 

[Craig in Alabama]

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[General Ray]

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[Brandy[Ma.]]

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[norman maassey]

I knew it was just a matter time before the home market was going to tank., When someone can buy house for $100,000. spend $50,000 on it, then sell it for $350,000.. The market is over priced Something bad is just around the corner.


About 15 years ago a friend of mine was oversea. He saw a new farm of per engined and pre-formed house. After having one shipped, 26,000 living space, 3BR, 21/2, den and 2 car garage. on concrete slab built on a 90X159 Lot the price was $73, 000. to $80,000.

He sold 5 house that I had built for him as the contractor. He had the land with streets, water. and power all ready to go. We tried to get about five different banks to back us. Our ideal was a Nice Home at Fair price. Form break ground to move was 30 to 45 days..We finished the last one within 90 days of starting the first one.

One Banker took us across town and show us some homes that were being built by a big shot local builder. The slabs were un level, walls not plum and doors dragging their openings. I truly don't know how some of this passed city code. This Houses starting at $200.000 Then told us if we got our prices up we would do business.

Came to find out the banks did not think that. $190,000 was not a enough return on $77.000 over 30 years.