Portal:Housing

The 2000s United States housing bubble or house price boom or 2000s housing cycle was a sharp run up and subsequent collapse of house asset prices affecting over half of the U.S. states. In many regions a real estate bubble, it was the impetus for the subprime mortgage crisis. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2011. On December 30, 2008, the Case–Shiller home price index reported the largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is an important cause of the Great Recession in the United States.

Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for the subprime, Alt-A, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets. In October 2007, Henry Paulson, the U.S. Secretary of the Treasury, called the bursting housing bubble "the most significant risk to our economy". (Full article...)

• ... that the Sofia, a condominium building in New York City, was originally a parking garage?
• ... that a condominium conversion of Manhattan House cost US$1.1 billion and took ten years?
• ... that supply-side progressivism is a response to rising costs of housing, healthcare, and other essential goods in the United States?
• ... that the neighborhood of Colonia Federal was built by employees of the Mexican Secretariat of the Interior to create exclusive housing for civil servants?
• ... that the 32-story Bridge Apartments in New York City were built directly above a 12-lane freeway?
• ... that a conversion plan led to the "Battle of the Century"?
• ... that the Felix M. Warburg House was converted into the Jewish Museum after nearly being replaced by apartments?
• ... that The Sims 2: Apartment Life is not about apartment life?

... that the four large housing cooperatives that make up Cooperative Village on the Lower East Side of Manhattan were sponsored and financed by trade unions with ties to the Socialist Party of America?

Other "Did you know" facts...

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