what is sub- prime crisis?
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The United States (U.S.) subprime mortgage crisis was a nationwide banking emergency, occurring between 2007-2010, which contributed to the U.S. recession of December 2007 – June 2009.[1][2] It was triggered by a large decline in home prices after the collapse of a housing bubble, leading to mortgage delinquencies and foreclosures and the devaluation ofhousing-related securities. Declines in residential investment preceded the recession and were followed by reductions in household spending and then business investment. Spending reductions were more significant in areas with a combination of high household debt and larger housing price declines.
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