The conversation between human and AI assistant.
How will you explain the 2008 financial crisis to a teenager?
Why did people default on their mortgages?
There were many reasons for this, including people taking out loans they couldn't afford, banks giving out loans to people who didn't have good credit or steady incomes, and the housing market being overvalued. Additionally, when the economy took a downturn, many people lost their jobs and were unable to pay their mortgages.