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Why did this happen?
Why did this happen?
:The Fed's sharp, prolonged reduction in interest rates stimulated a housing market that was already booming -- triggering six years of double-digit increases in housing prices during a period when the general inflation rate was low. [http://www.heartland.org/article/24759/Deregulation_and_the_Financial_Panic_Loose_Money_and_Politicized_Mortgages_Are_the_Real_Villains.html]
:The Fed's sharp, prolonged reduction in interest rates stimulated a housing market that was already booming -- triggering six years of double-digit increases in housing prices during a period when the general inflation rate was low.
What does it mean?
:If this crisis proves nothing else, it proves you cannot help people by lending them more money than they can pay back. [http://www.heartland.org/article/24759/Deregulation_and_the_Financial_Panic_Loose_Money_and_Politicized_Mortgages_Are_the_Real_Villains.html]
See:
See: