The Real Cause of the Housing Crash
Words: 1784 Pages: 6 5314The real reason the housing market crashed in 2008 stems from the fact that President Clinton and his Department of Housing and Urban Development signed off on over 100 executive orders pressuring banks to qualify credit for individuals in high-risk communities, which was collectively called the Community Reinvestment Act. The CRA directly led to over 6 trillion dollars of poor and at-risk loans being distributed to people with low credit scores in 2008. The reasons this led to the housing […]