Until mid-2006, when the FED raised interest rates to prevent inflation, moneymost cheap, then the real estate bubble began to burst because many people borrow money to buy housesinability to pay the debt, foreclosure. Then, we discoverthat of the debt package being floated, there are more bad debts, but bad toany size is unknown. Plummeting property prices, real estate marketassets freeze. And the crisis began to spread from the luxury real estate marketcredit markets and ultimately led to the financial crisis and recessionthe global economy.
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