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12-27-2008, 05:19 PM

pratik666

Junior Member

Join Date: Dec 2008

Posts: 1

i don't understand about mortgage crisis going on in

U.S? what i understood was banks gave mortgage to people who had a bad credit. This consequently raised the demand for housing and then bumped up house price. To decrease house price mortgage rate were set high. And then......Is it right.If not can anyone give me a brief explanation of this crisis?Thankyou

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