Portal:Housing

The American subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the 2007–2008 global financial crisis. The crisis led to a severe economic recession, with millions losing their jobs and many businesses going bankrupt. The U.S. government intervened with a series of measures to stabilize the financial system, including the Troubled Asset Relief Program (TARP) and the American Recovery and Reinvestment Act (ARRA).

The collapse of the United States housing bubble and high interest rates led to unprecedented numbers of borrowers missing mortgage repayments and becoming delinquent. This ultimately led to mass foreclosures and the devaluation of housing-related securities. The housing bubble preceding the crisis was financed with mortgage-backed securities (MBSes) and collateralized debt obligations (CDOs), which initially offered higher interest rates (i.e. better returns) than government securities, along with attractive risk ratings from rating agencies. Despite being highly rated, most of these financial instruments were made up of high-risk subprime mortgages. (Full article...)

• ... that the Sofia, a condominium building in New York City, was originally a parking garage?
• ... that the neighborhood of Colonia Federal was built by employees of the Mexican Secretariat of the Interior to create exclusive housing for civil servants?
• ... that a conversion plan led to the "Battle of the Century"?
• ... that The Sims 2: Apartment Life is not about apartment life?
• ... that supply-side progressivism is a response to rising costs of housing, healthcare, and other essential goods in the United States?
• ... that the building housing the city council of Palembang, Indonesia, was claimed to be the "grandest" of its kind?
• ... that a condominium conversion of Manhattan House cost US$1.1 billion and took ten years?
• ... that residents at Alterlaa, a housing complex in Vienna, have large concrete planters in which plants can be grown?

... that the Logan Fontenelle Housing Project in Omaha, Nebraska, along with restrictive covenants and redlining, were used to segregate African Americans in the Near North Side neighborhood?

Other "Did you know" facts...

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