Subprime Crisis No Barrier to Affordable Housing

    Newer Older

    WP’s take:
    The subprime mortgage crisis is an ongoing financial crisis characterized by contracted liquidity in global credit markets and banking systems triggered by the failure of mortgage companies, investment firms and government sponsored enterprises which had invested heavily in subprime mortgages. The crisis, which has roots in the closing years of the 20th century but has become more apparent throughout 2007 and 2008, has passed through various stages exposing pervasive weaknesses in the global financial system and regulatory framework.

    The crisis began with the bursting of the United States housing bubble[1][2] and high default rates on "subprime" and adjustable rate mortgages (ARM), beginning in approximately 2005–2006. For a number of years prior to that, declining lending standards, an increase in loan incentives such as easy initial terms, and a long-term trend of rising housing prices had encouraged borrowers to assume difficult mortgages in the belief they would be able to quickly refinance at more favorable terms. However, once interest rates began to rise and housing prices started to drop moderately in 2006–2007 in many parts of the U.S., refinancing became more difficult.
    Posted 14 minutes ago.

    adelapace, tapatim, static416, GEDCO, and 22 other people added this photo to their favorites.

    1. adelapace 67 months ago | reply

      I love this one!!!!!! You are so clever.

    2. Microcontroleur 67 months ago | reply

      A Big FaveA Big Fave
      You are invited to add this image to www.flickr.com/groups/bigfave
      Please tag this photo with ABigFave when you add it to the pool.

    3. súgán 67 months ago | reply

      Very striking. Everything's pointing down...?
      I saw this in A Big FaveA Big Fave

    4. static416 66 months ago | reply

      Hey, I used this shot in my blog post here:
      laconicreply.wordpress.com/2008/11/04/turns-out-im-not-rich/

      In keeping with creative commons I linked to this page, and your profile for accreditation.

      Let me know if that's cool, or if you'd like it removed.

      Thanks
      Eric

    5. ivanpw 56 months ago | reply

      Hi - I use your photo for my blog post about multi-unit franchising.

      Thanks for releasing this on CC!

    6. benhing7 39 months ago | reply

      Hi, this is my first time sign in to Flickr. I saw some of your nice photos which is which i like it very much. Just would like to ask you about the issue of copyright. Can I use you image for my company project? It will be printed into a mural.

      Can I just download and use it? What kind of info I should inform you?

      Thank you very much if you can reply my message.

    7. David Tsegai 30 months ago | reply

      Thank you for sharing this photo! I used it as an illustration for the article about housing bubble causes on my Calgary real estate blog.

    keyboard shortcuts: previous photo next photo L view in light box F favorite < scroll film strip left > scroll film strip right ? show all shortcuts