Essay On Real Estate Market Crash

The economy took a turn from the worst when there was a crash in the markets. This crash in the real estate market had a significant effect on many families throughout the country. Effects that would have a huge impact on their lives. The impact of the negative effect of the real estate market made it hard for individuals to buy and sell houses at the time. Houses went to below 25% of the peak level in 2006. People had trouble paying their bills and could not manage their money. This crisis led to our awareness of what could happen to the market at any given time. People use houses in many different ways than they used to. Traditionally, people bought a house to live in until they died and then passed it on to someone in the family. That is not quite the case in …show more content…
This fund should consist of enough money to be able to pay your mortgage and bills for a couple months. This emergency fund would provide you with a safety net in case there happened to be another incident that occurred. A lot of people also ran into issues when they were seeking advice from mortgage professionals. They were listening to the advice of these people before doing any type of research of their own. The thing that the crash taught us here is to check the credentials of any person that could be advising you in any way. See what qualifies them to be able to giving you the best advice you can possibly receive. It is important to be careful who to trust. Do not just put your money somewhere or give it to someone without doing any research of your own. There are many things that we have learned from the crash of the real estate market. It is important to look over these things and do things differently in order to prevent this from happening again. If we continue on doing things the right way, it could be very beneficial to our society and could greatly impact our lives in a positive