This paper warns of an economic recession as a result of the falling housing market.
Written in 2008; 700 words; 5 sources; MLA; $ 24.95
Paper Summary:
The paper discusses the downturn in real estate prices and compares the situation to that of the Great Depression. The paper looks at the lending market and the construction industry and predicts that there is a coming depression.
From the Paper:
"Many people who lived through the Great Depression or who have studied it are concerned about the real-estate economy as it appears today, stating that current conditions mirror those that occurred just prior to the Great Depression. . There has been a significant boom in prices, that allowed many to over-finance and overextend their debt, which many say will in turn create havoc when paper debt exceeds real value of real estate holdings."
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