United States housing bubble

A graph showing the median and average sales prices of new homes sold in the United States between 1963 and 2008.

The United States housing bubble is an economic bubble affecting many parts of the United States housing market in over half of American states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and may not yet have hit bottom as of 2011.

Mortgage fraud

In January 2012 a proposed settlement deal was announced in which five banks—Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Financial (formerly GMAC)—would pay the federal government $25 billion. In February 2012 five major mortgage servicers agreed to a $26 billion settlement with state and federal officials.

Related

• Occupy Encyclopedia
• Politics
• Banking
• United States public debt
• Basic Income
• Economic inequality
• Social justice
• Occupy Homes
• Community Reinvestment Act

References

• Timeline of the United States housing bubble on Wikipedia.
• Glass-Steagall “repeal” and the financial crisis on Wikipedia.
• Commodity Futures Modernization Act of 2000 on Wikipedia.
• United States housing bubble on Wikipedia.
• Subprime mortgage crisis on Wikipedia.
• Dodd–Frank Wall Street Reform and Consumer Protection Act on Wikipedia.
• Volcker Rule on Wikipedia.
• Foreclosures to Climb Before Bank Deal Helps U.S. Housing Market
• New Agency Proposed to Oversee Freddie Mac and Fannie Mae
• Feds, states, banks agree to $26 billion mortgage settlement
• A model approach
• Will There Be a Meaningful Volcker Rule?
• With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans
• Aaron Swartz, Financial Fraud and the Justice Department