What caused the 2008 recession timeline?

The Great Recession—sometimes referred to as the 2008 Recession—in the United States and Western Europe has been linked to the so-called “subprime mortgage crisis.” Subprime mortgages are home loans granted to borrowers with poor credit histories. Their home loans are considered high-risk loans.

When was the US economy at its recession?

The Great Recession refers to the economic downturn from 2007 to 2009 after the bursting of the U.S. housing bubble and the global financial crisis. The Great Recession was the most severe economic recession in the United States since the Great Depression of the 1930s.

Why was the 2008 recession so bad?

Home prices fell at the same time interest rates reset. Defaults on these loans caused the subprime mortgage crisis. They sold too many bad mortgages to keep the supply of derivatives flowing. That was the underlying cause of the recession.

When was the last time the US had a recession?

The last recession started in 2007 and ended in 2009. The one before that started and ended in 2001. The two previous recessions ran from 1990 to 1991 and from 1981 to 1982.

What was the timeline of the Great Recession?

Great Recession. Timeline created by melissacalix. In Business. Period: Jun 1, 1899 to Dec 31, 1900. Great Recession. During: 1 year and 6 months. The period of 1893–97 is seen as a generally depressed cycle that had a short spurt of growth in the middle, following the Panic of 1893.

What ended the Great Recession?

Recession officially ended in June 2009. NEW YORK ( CNNMoney .com) — The Great Recession ended in June 2009, according to the body charged with dating when economic downturns begin and end.

When did the Great Recession begin and end?

The Great Recession officially began in December 2007 and ended in June 2009, according to the National Bureau of Economic Research, which determines the start and end dates of U.S. recessions based on a range of economic indicators.