The Devastating Impact Of Foreclosures: Lessons From The Great Depression And The Subprime Mortgage Crisis
During the Great Depression, widespread foreclosures devastated families and communities. Default on mortgage payments, often due to job loss, triggered a legal process that resulted in the loss of homes. The Subprime Mortgage Crisis, fueled by risky subprime mortgages, exacerbated foreclosures, contributing to the global economic downturn. Parallels with the Great Depression, marked by high…