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Housing Boom
A period characterized by significantly increased real estate activity and rising housing prices, typically driven by economic factors and low interest rates.
Housing Bust
A rapid decline in the market prices of residential properties, often following a period of unsustainable growth or speculation, leading to widespread financial and economic distress.
Fannie Mae
A government-sponsored enterprise (GSE) established to expand the secondary mortgage market by making mortgages more accessible to low- and middle-income borrowers.
Freddie Mac
A government-sponsored enterprise (GSE) focused on expanding the secondary mortgage market by buying loans from lenders, thereby providing liquidity, stability, and affordability in the housing market.
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