Then the S&L bubble burst and he ended up like so many were in the 2008-2012 period when the mortgage crisis hit.If someone crashed and burnt during the 1980s over commercial real estate, then they were simply over leveraged and bought bad assets.

I had a residential appraisal business in the Cleveland Metro area for a decade and survived the foreclosure crisis doing foreclosures.

@Justin R.I understand what you say about the housing crisis.

My beef is that I live in a small home neighborhood that was bought up during the lender/bank auctions that followed the last real estate and mortgage crisis, almost entirely by absentee landlords, many whom have never even visited our town of 4,000 residents.

The stock market has what I call Crisis Days.

Just saying that it's counterintuitive, using good quality leverage actually reduces risk and increases security, it's not easy to get everyone to see this but just look at times of natural disaster and economic crisis where all the assistance is offered to those who have mortgages but no help is offered to those who have lots of equity.

Even though times have changes since the housing crisis began, HML's can still be a fix-n-flip investors best friend!

The S&L crisis in the 80s caused all his notes to be called.

Other People's Money: Inside the Housing Crisis and the Demise of the Greatest Real Estate Deal Ever Made is a fantastic read, but real estate people are definitely the "bad guys" in the story.

I literally mean never, even the 2007-08 crisis they did stop growing but barely went down.