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Title: Explaining of Subprime mortgage crisis
Description: it is a task about explaining to your nephew what the subprime mortgage crisis is
Description: it is a task about explaining to your nephew what the subprime mortgage crisis is
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Hello Henry,
You asked me for some help with your essay about the subprime mortgage crisis
...
So subprime mortgages are mortgages who have less requirements than a normal mortgage
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This is how bankers can earn a lot of money on short-term
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If this happens too long the bank becomes the owner of
the house and sells it, in this way the bank also earns a lot of money
...
But what happened is that more
and more people lost their houses and there was a lot more supply than demand
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Normally when the
prices are low the demand for houses will grow, but now people cannot afford this anymore so the
house prices stay low and the bankers get no money at all
...
What also happened is that
people who had a savings account at a bank who was bankrupt lost their money
...
The more people who did this the faster a bank fell down
...
I hope this will help you by writing your essay
Title: Explaining of Subprime mortgage crisis
Description: it is a task about explaining to your nephew what the subprime mortgage crisis is
Description: it is a task about explaining to your nephew what the subprime mortgage crisis is