Essay about The Best Technological Invention At The American Population

809 Words Nov 5th, 2015 4 Pages
The year 2000 was a great year for the American population. Brittany and Beyoncé were producing their number one hits. Mean girls became one of the most quotable movies to exist. Myspace was the top social media platform. Blockbuster was the first stop when searching for media entertainment. The best technological invention at the time was a flip phone with a camera. AIM was the best way to connect with friends. The most responsibility one had was to raise a Tamagotchi, and most importantly, there was an excess in capital in markets around the world.
This copious amount of capital flowing in and out of markets made investors happy at this point in time. They were making a great deal of cash over the loans that were backed by an individual’s mortgage. These mortgage backed securities ensured the investors that the money was coming from a steady source and so they became the favourable choice. But these types of loans didn’t just help investors, they helped the community. People were now able to get a mortgage if they qualified. But due to the high demand in these investments, the qualifications in order to obtain a mortgage began to dissipate until there were practically none. This process set off a drastic series of unfortunate events. The demand for houses continued to rise as more people realized they could obtain a mortgage loan. This in turn led to a large spike in the price of homes, specifically nearly 87% increase. Now while the price of a home was steadily increasing…

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