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The whole "growth" of the economy for many years had been based on phony loans given out to increase home ownership. These loans were given to people who couldn't afford a house (so the end result was already predetermined).
People used this "fake" wealth to improve their houses, buy things, and bid up stocks for many years. When credit finally ran out the system collapsed and stocks adjusted to the fact that the inflated values were not real.
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∙ 14y ago
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Why stock market crash in 2008?
Because Chuck Norris is cool.
What was the date on the stock market crash?
Sept 21, 2008
What event was the catalyst of the Great Depression?
Stock Market Crash
What event is often considered to be the starting point of the great depression?
(apex) black tuesday
What event is considered the start of the Great Depression?
The stock market crash of 1929. novanet - stock prices crashed when millions of shares of stocks were sold
Why stock market crash in 2008?
Because Chuck Norris is cool.
How much was lost in stock market crash of 2008?
10 trillion
What was the date on the stock market crash?
Sept 21, 2008
What event was the catalyst of the Great Depression?
Stock Market Crash
What event is often considered to be the starting point of the great depression?
(apex) black tuesday
What was a result of the stock market crash farmers problems and the overuse of credit?
The country entered a depression as the result of the stock market crash.
Did the stock market crash happen in the 20th century?
The Stock Market Crash happened in 1929 on Black Tuesday.
What is the stock market crash seen as the beginning of?
If you are referring to the stock market crash of 1929, that was the beginning of the Great Depression.
What caused the stocket market crash in 2008?
The current US Subprime economic crisis caused the stock market crash in 2008 Due to lack of liquidy people started selling off their stocks to make cash. This caused a massive selling of stocks which in turn made the market crash
What were the results of the 1929 stock market crash?
at the end of the stock marketday on thurs. oct,24 the market was at a selling panic attack. the profit flew down and that was the result of the Stock Market crash
How did Sallie Mae survive the stock market crash of 2008?
Sallie Mae, a student loan association, was able to survive the stock market crash by privatizing their company. By privatizing their company stock holders were not able to get in and grab a share making it safer and more effective in not losing their profits.
What event is considered the start of the Great Depression?
The stock market crash of 1929. novanet - stock prices crashed when millions of shares of stocks were sold
