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Since the housing bubble burst, bank mortgage rates and decreased. This makes it more affordable for people to get a loan and be able to purchase a house.

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When did the housing bubble burst?

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The housing bubble refers to a period of rapid increase in housing prices fueled by speculative investment, easy credit, and subprime mortgage lending, particularly in the United States during the early to mid-2000s. This bubble burst around 2007-2008, leading to a significant decline in home values, widespread foreclosures, and a financial crisis that impacted global economies. The collapse revealed vulnerabilities in the financial system and prompted regulatory reforms to prevent similar occurrences in the future.


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