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How was the person-situation debate resolved?
Economic Downturn
A period of declining economic performance across an economy, characterized by reduced GDP, employment, and spending.
Adjustable Rate Mortgages
Home loans with interest rates that can change over time, often linked to a specific index or benchmark.
Foreclosure Rates
The percentage of properties undergoing the legal process by which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments.
Prime Borrowers
Individuals who are considered low-risk by lenders due to their excellent credit history and are thus likely to receive better loan terms.
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