1). Many economists consider the crisis of 2007-2009 to be the worst financial crisis since the Great Depression. The housing market crash of 2007 was one of the major significant causes of this financial crisis. Between the period of 1995-1999, the housing market had a slow, but continuous growth. Once the stock market crash in 2000, most shareholders removed their money from stocks and put it into housing. The Federal Reserve endorsed the housing market to help create wealth and to assist in growing and expanding the economy. Once the housing industry became popular into the mid 2000s, it all of a sudden began to deteriorate when interest rates for credit and borrowing rose dramatically which dropped the housing prices. “On December 30,
