A house and garage, both boarded up, sit behind a chain link fence. In front of the house, a sign reads “Bank Owned for Sale, Foreclosure Priced 2 Sell, Don’t Wait, Call Today!”

Question

Question
Use the image to answer the question.
Which of the following contributed most to the problem shown in this photograph from the time of the financial crisis of 2008?

(1 point)
Responses

Congress approved a large bank bailout in 2008.
Congress approved a large bank bailout in 2008. - no response given

The global economy became interconnected.
The global economy became interconnected. - no response given

Unemployment began to rise quickly in 2007.
Unemployment began to rise quickly in 2007. - incorrect

Low interest rates spurred too much borrowing for buying homes.

Answer 1

Low interest rates spurred too much borrowing for buying homes. - correct