Does everybody understand the connection between The Real Estate Market and the Recession?

by Renegade98
Question by SUPERIOR INTELLECT: Does everybody understand the connection between The Real Estate Market and the Recession?
Many people seem to think that The Iraq War and Oil Prices caused the Recession, which is false.

The cause of the Recession is because during the Real Estate boom, many people took out loans they can not afford or loans that are very risky (variable rate mortgages).

Since, they many can not afford those loans, many homes went on foreclosure.

Since

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