The US Housing Market and the Subprime Mortgage Crisis (B): Impact on the US Economy |
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Business Environment Case Studies Please note: This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source. |
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Introduction Contd...
The crisis intensified with 2.2 million delinquencies8 leading to foreclosures9 in 2007,10 and ending up in repossessions11, which added to the glut in unsold homes in the real estate market and caused a further decline in home prices.
8] Delinquency means repeated failure to make
payments of the mortgage loan. |
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