What happened to the credit standards (e.g., minimum down payment, mortgage loan relative to the value of
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What happened to the credit standards (e.g., minimum down payment, mortgage loan relative to the value of the house, and creditworthiness of the borrower) between 1995 and 2005? Why did the credit standards change? How did this influence the 2002–2005 housing price bubble and later the default and foreclosure rates?
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Between 1995 and 2005 credit standards underwent a notable decline ...View the full answer
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Related Book For 
Macroeconomics Private And Public Choice
ISBN: 9780357134009
17th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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