Asked by d
What was a major cause of the US recession that began in 2008?
defaults on mortgages for homes
consumers not buying new homes
damage from Hurricane Katrina
a rise in the American stock market
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GPT-5 mini
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Defaults on mortgages for homes.
The 2008 recession was largely triggered by the collapse of the housing bubble and widespread mortgage defaults (especially subprime loans), which led to massive losses at banks, a credit crunch, and a financial-system crisis.
The 2008 recession was largely triggered by the collapse of the housing bubble and widespread mortgage defaults (especially subprime loans), which led to massive losses at banks, a credit crunch, and a financial-system crisis.
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