The new film “The Big Short,” based on the book by Michael Lewis, takes readers back in time to the beginning of the great recession and focuses on a few men who foresaw the collapse of the global economy and were able to take advantage of it financially.

And then things got crazy.

The Real Estate bubble burst, and the Valley was hit as hard as any other community in the country. John Wake of Arizona RealEstateNotebook.com, Michael Metz, vice president of Mortgage Lending for Guaranteed Rate; and Catherine Reagor of The Arizona Republic, spoke about what happened and the aftermath of that event.