That one reddit thread about the guy who predicted the housing crash in 2006

Found an old post from r/realestate back in July 2006. Dude named Mike from Phoenix said subprime loans were gonna collapse the whole market. Everyone called him a doom poster. I read it and shrugged. Six months later Lehman went under and I remembered his exact numbers. 40% default rate in his zip code.

3 comments

3 Comments

the_eric12d ago

Remember that thread. Mike from Phoenix was right on the money. I saved a screenshot of his post on my old phone. Still have it somewhere in a drawer. Crazy how nobody listened to him back then.

green.iris12d ago

Printed his post out and taped it to my wall for months, still look at it sometimes.

brooke_taylor4412d ago

@green.iris that original post aged like fine wine, didn't it.