Econ Period 4

Econ Period 4
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  • With housing prices rising, people go to the banks to take out loans.
  • We can't afford houses. We need a loan!
  • People with both good and bad credits were desperate to receive a loan.
  • Credit: 780
  • Credit: 560
  • Despite the possibility of those with low credit scores not paying off loans, they received them anyways.
  • Congratulations! You both get loans!
  • The banks who carelessly gave out loans started to go bankrupt.
  • HELP WE HAVE NO MONEY!!
  • Housing prices were increased even further. This makes people pay well above the houses actual value.
  • $1 Million for this!? That's outrageous!!!
  • After the banks started going bankrupt the Government bailed them out, lowering the housing prices again.
  • Thank God that's over! Let's hope it gets better!!
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