They say it all started after 09/11,
When they were looking for a diversion;
In an attempt to boost the economy,
Lenders started opening up some money!
As the markets were looking for ways to expand,
The housing sector seemed primed for demand;
Construction industry soon became hot,
And they took over every vacant lot!
With all the money being made available,
The bigger house suddenly seemed more affordable;
Jack went to the bank with his honey,
They came back home with double the money!
Everything seemed hunky dory,
For every house had more than one storey;
It was good while it lasted,
For very soon, the problems started!
Jack couldn’t keep up with his monthly payment,
The banks started realizing their predicament;
Supply started exceeding the demand,
New home prices started reflecting this stand!
As price corrections started to happen,
Home ownership started to dampen;
The existing buyers owed more than they owned,
Per the sub-prime term, it was equal to being drowned!
Everyone started to realize their folly,
Suddenly it wasn’t as easy to obtain a lolly;
It seemed simple enough for all to benefit,
But it will take a lot more to get out of it!
Image Credit: Woodley Wonderworks
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