2. 2008 was a significant year for the housing market and marked the beginning of the Great Recession. For each of the actions below, indicate which period you think they apply to: the decade BEFORE 2008 or the decade AFTER 2008.-2008 fue un año importante para el mercado inmobiliario y marcó el inicio de la Gran Recesión. Para cada una de las siguientes acciones, indique a qué período cree que corresponden: a la década anterior a 2008 o a la década posterior a 2008.

Question

2. 2008 was a significant year for the housing market and marked the beginning of the Great Recession. For each of the actions below, indicate which period you think they apply to: the decade BEFORE 2008 or the decade AFTER 2008.-2008 fue un año importante para el mercado inmobiliario y marcó el inicio de la Gran Recesión. Para cada una de las siguientes acciones, indique a qué período cree que corresponden: a la década anterior a 2008 o a la década posterior a 2008.
Banks making home loans with no down payments required: 
Banks making home loans to only applicants with high FICO scores: 
New home construction down significantly:

GPT-4o mini · Answer

Here’s how the actions relate to the periods before and after 2008:

Banks making home loans with no down payments required: Decade BEFORE 2008. This was common during the housing boom leading up to the financial crisis.
Banks making home loans to only applicants with high FICO scores: Decade AFTER 2008. After the crisis, lending standards tightened significantly, and banks became more cautious, only approving loans for borrowers with higher credit scores.
New home construction down significantly: Decade AFTER 2008. Following the crash, new home construction fell sharply due to decreased demand and the economic downturn.

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