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Real Estate Crash

October 1, 2007 By Daniel DiGriz

This is the founding post of the blog “The Rules of Work”.

Well, until today I worked for a real estate software and web services company as a Sales Engineer. But they laid off about 1/3 of the workforce this past month, including the VP of Training. Casualties of the real estate crash.

This is the second time that a sector in which I was working was in the direct path of the economic tornado:

The US Real Estate Crash (Autumn 2007)

  • Subprime Mortgage Crisis – Housing Bubble
  • The Subprime Mess
  • Where are We Headed?
  • Subprime Meltdown
  • New Home Sales Hit Lowest Level since 2000.
  • Home construction spending rate nears 4-year low
  • California home sales drop 28% in August
  • Wall Street wrecks real estate stocks
Subprime Collapse

I was in South Korea in ’97 when the wages I’d been making (about what a computer programmer is paid there), were suddenly worth less than what a part time McDonald’s employee makes in the US.

The Asian Tigers Plunge (Summer 1997)

  • Asian – East Asian Financial Crisis
  • Korean won loses half its value
  • Downward Spiral of the Asian Tigers
  • Timeline of the Panic – Frontline/PBS
  • The Chastening
ASEAN Tigers collapse

Filed Under: Grab Bag

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