The Housing Bubble Prior to 2007 Was Driven Primarily by

question 27

Multiple Choice

The housing bubble prior to 2007 was driven primarily by

• A)the large population growth stemming from legal and illegal immigration between
• 1990 and 2005.
• B)the increased demand for housing that resulted from a dramatic loosening of lending standards.
• C)innovations in construction technology that allowed for new homes to be built at drastically reduced costs.
• D)the federal government's decision to quadruple the mortgage interest deduction in 2003.

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Definitions:

Exchange Relationships

Relationships based on reciprocity and fairness, in which people expect something in return.

Childrearing Practices

Methods and approaches parents use in raising their children, including discipline, education, and emotional support.

Crime Rates

The measure of the occurrence of crimes reported within a given area and time period, often used as an indicator of safety.

Sociologist

A social scientist specializing in the study of social behaviors, structures, and functions within human societies.