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I was in my early 20s and felt it was over in 2014
Vibes just felt bad from 2008-2010, the job market wasn’t great until 2014
You really don’t. Don’t try to time the market perfectly it won’t work. I did it in 2020 by sheer coincidence. But you will never know what the actual bottom is. And insiders know when conditions are improving before general public will
Leading up to it: From a small business perspective summer of 2007 gas prices spiked, sales slowed, and they never picked up again. 2008 bank failures were when it hit everyone else. I was already out of business by then. I went into about 100k in debt trying to keep my business open. It wasn’t obvious how bad it was in 2007.
Afterward: It wasn’t like Covid. It was like 5 years for me to recover and get back to previous income. Mostly you noticed it in hiring again. I was still buying distressed real estate from 2008 in 2015. The layoffs were similar to what’s been going on the past 2 years. I wasn’t invested in the stock market. My house lost 100k in value very quickly. Couldn’t sell it, couldn’t rent it. My lesson learned was managing risk, never over leverage yourself. Diversify if you put your life savings in a home you may lose it.