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:

Osteoporosis

A condition characterized by weakened bones, increasing the risk of fractures.

Socioeconomic Status

A measure that combines income level, education, and occupational prestige to categorize individuals or groups.

Life Expectancy

The average number of years an individual is expected to live, based on statistical averages, taking into account factors like current age, gender, and health conditions.

Chronic Illnesses

Long-standing, persistent health conditions that typically require ongoing medical attention or limit activities of daily living.