The Foreclosure Crisis : The 2008 Mortgage Crisis

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The bursting of the housing bubble, known more colloquially as the 2008 mortgage crisis, was preceded by a series of ill-fated circumstances that culminated in what has been considered to be the worst financial downfall since the Great Depression. After experiencing a near-unprecedented increase in housing prices from January 2002 until mid-2006, a phenomenon that was steadily fed by unregulated mortgage practices, the market steadily declined and the prior housing boom subsided as well. When housing prices dropped to about 25 percent below the peak level achieved in 2006 toward the close of 2008, liquidity and capital disappeared from the market.
But what have we learned from the consequences of our actions? While the signs seemed to be somewhat positive - more homebuyers have been getting back into the market, spurred on by record low interest rates, I opted to interview several industry specialists who specialized in various facets of the real estate and mortgage industry: Tim Waller (of Caldwell Banker), Bill Linteris (of Century 21), Joseph Palermo (of Tri-County Realtors), Dean Scaduto (Caldwell Banker Financial Service Representative), and Jim Madonia (of East Coast Mortgage). How would you say the real estate market has progressed since the 2008/2009 crash? Please refer to any periods of recovery, downturns in the market?
TW: During the crash, it fell by approximately by 20-30%. It has since seen some recovery in the neighborhood of 10-15%, but it’s still a good

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