I thought it was going up higher so I stayed in the trade, and few days later it came crashing down😬.

Its no surprise to me that RD is out there talking about how the world economy is going to crash etc etc.

They are on the same path as before the 2008 crash and, in many places, prices are again completely disconnected from rents.

(It was shortly after the 08 crash.) 

They went through the 2008-09 crash, but I think you are writing that maybe they were too young to be clobbered. 

In conclusion, while most of the USA began experiencing an economic and real estate boom from 2009 and onwards, following the 2008 crash...Waco remained an economically depressed city.

Drive to Silicon Valley ( two hours driving a day ) , work till 7:00 or so, go home and crash. 

Distressed notes have been on the decline for a few years, as we have dug ourselves out of the real estate crash.  

This thinking contributed greatly to the market crashing back then and no lender in their right mind would evaluate a deal in this fashion.Lenders will always base value on the lower of the appraised value or the sales price.  

New world holiday, annual market crash day, lol.