The Subprime Mortgage Crisis in the USA

The Subprime Mortgage Crisis in the USA The Subprime Mortgage Crisis Mar 26, 2018 in Economics Introduction The growth of any economy of any country in the world is very much determined and affected by the correlated growth or otherwise of the sector industries that are present in that particular country. In other words, the performance of the different industrial setups in these nations culminates into how the economy of that particular nation will behave. The subprime mortgage crisis that rocked the United States of America economy in the year 2007 led to a widespread financial crisis and a very profound deterioration of the economy of United States. According to Demyanyk and Hemert (2008), the crisis was characterized by subprime mortgage delinquencies and foreclosures. There was also a massive degeneration of the value of securities that were backed up by those mortgages.