you guys are missing a lot of what happened in 2007-2008
yeah the housing problems were a result of other issues. THe economy wasn't doing too bad. then oil started to climb and gas was $4.00/gallon. aluminum and steel and iron went thru the roof. I recall lots of discussions on this forum about scrapping farm equipment at $600/ton (give or take).
The high commodity prices slowed things down in a hurry. I know we were paying more for the iron in our parts than what we were getting for the finished product (machined and painted). that made us upside down. so layoffs, no bonuses, no new equipment ect ect. at home $4 gas slowed our spending way down.
with the slow down mortgages became hard to pay especially those that had the shady deals (more house than they could really afford) and it went sour reel fast.
key things you guys have missed beating the mortgage crisis horse.
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Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
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