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Too many houses,too little money
Mar 25, 2014
DELHI: For over a decade before the crisis actually hit, especially between 2002 and 2004, a lot of investors from around the world were parking their money with banks in the U.S. for very low interest rates. Money was so widely available, and so cheap, that banks started lending them to individuals as home loans (housing mortgages). Since banks didn’t know what to do with all the spare cash lying around, in many cases, they lent this money to people who wouldn’t be able to pay back.

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