jan 1, 2008 - 2008 financial crisis
Description:
Banks took risks by giving out loans that covered 100% or more of a houses cost to people with questionable credit scores. The banks had to take the losses when these people couldn't pay, causing loan rates to skyrocket. This made housing prices fall and many people were unemployed.Added to timeline:
Date:
jan 1, 2008
Now
~ 18 years ago