when did the housing market crash in 2008
United States housing bubble The United States housing bubble was a real estate bubble affecting over half of the U.S. states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012.[2] On December 30, 2008, the Case-Shiller home price index reported its largest price drop in its history.[3] The credit crisis resulting from the bursting of the housing bubble is—according to general consensus—an important cause of the 2007–2009 recession in the United States.[4][5]
Bill Knapp's By the end of 2002, the chain's last restaurant had closed.[7]
Financial crisis of 2007–2008 It began in 2007 with a crisis in the subprime mortgage market in the United States, and developed into a full-blown international banking crisis with the collapse of the investment bank Lehman Brothers on September 15, 2008.[5] Excessive risk-taking by banks such as Lehman Brothers helped to magnify the financial impact globally.[6] Massive bail-outs of financial institutions and other palliative monetary and fiscal policies were employed to prevent a possible collapse of the world financial system. The crisis was nonetheless followed by a global economic downturn, the Great Recession. The European debt crisis, a crisis in the banking system of the European countries using the euro, followed later.
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