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In layman’s terms, what caused the 2008 financial crisis?
Can you explain in layman's terms what caused the 2008 financial crisis?
Sure! The 2008 financial crisis was caused by a number of factors, but a major contributing factor was the housing market bubble. This bubble was caused by lenders giving out loans to people who couldn't afford them, which created a surge in housing prices. Once people started defaulting on their loans, the bubble burst and housing prices plummeted, causing a ripple effect throughout the economy.