The Great Real Estate Bust of 2008
The boom that preceded the bust in 2008 in the world’s housing markets was caused by the faulty idea that investments in homes are a sure route to wealth. But people's belief can suddenly be disrupted if plainly visible events contradict it, and 2009 will shape up as a year of even more profound disenchantment.
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NEW HAVEN – What brought on the collapse of home prices in 2008 that is the root of the financial crisis now enveloping much of the world?