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Essay / Research Paper Abstract
This 8-page paper is an explanation of how the housing crisis led to economic failure in the United States. Bibliography lists 10 sources.
Page Count:
8 pages (~225 words per page)
File: AS43_MThouscris.doc
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Unformatted sample text from the term paper:
the wonderful power of hindsight from which to draw. This is similar to what were doing today, as we analyze the causes of the 1930s Great Depression. But even so
close to the Great Recession of 2008-2009, much of the literature, scholarly and otherwise, has been able to point to a variety of factors behind the economys collapse. Singly, these
factors would have had an impact on the economy, but it wouldnt have caused it to fall as spectacularly far as it did. The factors involved were, in no particular
order, an out-of-whack-value housing market, investments and complex derivatives created on the backs of shaky subprime loans, and loans that had no business being made to various individuals in the
first place. The aspect here was a "perfect storm" that involved the huge collapse of the housing market, taking down the financial
system with it. Added to that was a recession we now already know was underway - it probably came as no surprise to most people when, in early 2009, it
was announced that the U.S. had been in a recession since late 2007. The recession, in part, had been caused by the housing collapse. The recession is also a part
of economic booms and busts as well. The Housing Market In July 2008, just a few months shy of the Lehman Brothers collapse
and AIGs cry for bailout help, and shortly after it was learned that Fannie Mae and Freddie Mac were suffering their own problems, economic writer Robert Samuelson pointed out one
problem with the United States - namely "our infatuation with homeownership" (p. A15). In the United States, in fact, owning a home
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