The newspapers reported the financial doom and gloom the global economy is facing due to the sub-prime mortgage crisis? | Suddenly the subprime crisis seems to be taking the blame for all the major problems (except perhaps the war in Iraq). This debt is not completely baseless? | In this article I will try to decipher and explain in plain English that this global crisis is about.
It all started here
Five or six years ago (or earlier), the real estate market was booming in America. House prices rising? | The hostess was happy and aspiring home owners wanted to buy a house as soon as the Cana? |
At that time there was a lot of money available in the