The collapse of real estate infidelity

The start was American real estate. In 2006, the real estate boom in the United States peaked and began to subside. The following year, the bonds provided for the housing as collateral were either bankrupted or foreclosed. American financial companies that issued bonds stumbled. Leading investment banks such as Bear Stearns and Lehman Brothers in the US were on the verge of bankruptcy, causing the entire US financial industry to swirl. The financial industry of each country, which has been engaged in complex financial transactions with the United States, has struck a catastrophe, and the world is in a financial crisis. The global financial crisis that occurred in 2008 unfolded in this way.

 

The first global panic in the 21st century began in the US housing market and spread like the Butterfly Effect. The wings of the housing market affected the atmosphere, hitting the New York financial market, London, Frankfurt, and Tokyo. Yeouido stock prices, which were thought to have nothing to do with US real estate, were hit and the Korean real estate market sank.

 

The global financial markets of the 21st century are characterized by concurrency. The collapse of the Turkish lira affects the New York stock market, and the collapse of Argentine bonds causes the London market to slump. Its amplitude is proportional to the magnitude of the epicenter. The epicenter of the 2008 catastrophe was the US real estate market. The United States began the 21st century as the only powerful country that no one can overlook due to the collapse of the communist world, including the Soviet Union. The United States suffered the 9/11 terrorist disaster at the beginning of the century, but it ended the terrorist forces by waging two wars in Iraq and Afghanistan.

 

Then the US economy broke down. The breakdown occurred in a home that every American would love. The desire to have a good home is common to mankind. At the beginning of the century, a real estate boom broke out in the United States, where they were confident. Capital from all over the world flocked to the United States. The money went into the US housing market. Americans believed that the housing market would rise forever. The catastrophe began as the reality of that belief was broken.