What Was the Result of the Housing Industry Crash in 2007

question 96

Multiple Choice

What was the result of the housing industry crash in 2007?

• A) It affected only some reckless speculators but worried American voters.
• B) It destroyed the American economy but benefited the economies of most other countries.
• C) It sent bank profits soaring, given all the homes they were able to acquire through foreclosure.
• D) It froze credit, provoked the Great Recession, and helped shatter support for Bush.
• E) It had long been predicted by the Bush administration and helped it regain the public's trust.