1 Thought on Was there an aggregate decline in prices during the Subprime mortgage crisis?
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    golferwhoworks
    February 12, 2014 at 2:20 am

    their rates went down when the market went down. The home prices fell when the foreclosure rates increased in many areas of the country. Know this some areas never lost value and some stayed constant and have been staying that way. It was only in over priced markets and heavy industrial areas such as Detroit that lost the most in value as these people over bought and used hybrid mortgages to do so. Unlike Detroit that saw the plants closing and people really lost jobs did these types of area start hurting. There was sub prime lending long before that worked well in the market it wasn’t till Fannie and Freddie were made to rewrite the guidelines to support the hybrid loans since Bill Clinton signed the community reinvestment act that said in a nut shell if you have a beating heart you can own a home that all of these crazy lending started in the first place

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