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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 667 |
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Much of that spending was fueled by debt and the perceived equity homeowners had built up into their homes. As the economy began to heat up the Federal Reserve attempted to curb inflation by increasing the overnight lending rate. These interest rate moves and plateauing debt created a housing environment where homeowners were no longer able to maintain their mortgage payments, the U...
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As the economy began to heat up the Federal Reserve attempted to curb inflation by increasing the overnight lending rate. These interest rate moves and plateauing debt created a housing environment where homeowners were no longer able to maintain their mortgage payments, the U.S. housing market began to cave as homeowners were foreclosed by lenders and forced into bankruptcy...
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General points of the essay
Recession in 2008
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