See directions below for your second post of the day.
Your first task
Please watch the video below and leave a comment in the comments section.
writing prompt- what do they mean by the housing bubble.
See directions below for your second post of the day.
4 comments:
The housing bubble keeps people from being able to purchase houses safely. The guy in the cartoon wanted to buy a house, it was worth 250,000; but when it was appraised it was a whopping 500,000. He couldn't afford this so he went to a lender that would give him money now to put a down payment on the house. The payments kept getting larger, and his payments were late, so he lost his house entirely.
I didn't really understand what the videa was talking about, but when I read Jocelyn's response it all kinda made sense. However I don't think that I can explain anything because it's all a little shaky.
Ditto to leah
No just kidding Jocelyn explained it pretty well and i agree with her. It's just saying that This dude wants to buy a house that was worth 250k but then he gets the new price after the appraisal and finds out its more then he can afford so he takes money from the bank and the bank assures him that he can afford it all and be able to pay them back but he cant and he ends up losing everything he had.
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