Its Causes and Consequences on the Recent Mortgage Market

The US mortgage market is valued at $10,000 billion. In this figure, the subprime market comprises a 13% share. The gross domestic product or the GDP of the United States is incorporated with a 9% subprime market share. This amplifies the gravity of the subprime mortgage mess. It is not only the mortgage market, the banking and lending industry, but the whole national economy is suffering from this subprime tantrum. The consequence is worldwide.

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