Economic Challenges and the Subprime Mortgage Crisis

During the late 20th and early 21st centuries, the United States faced significant economic challenges that shaped its policies and society. One major event that influenced economic conditions was the Great Recession, which began in 2007 and lasted into the early 2010s. This period was marked by high unemployment rates, significant foreclosures, and an overall decline in consumer confidence. Understanding the causes of these economic challenges can help in recognizing their impact on the American economy and society.

What was one significant factor contributing to the economic challenges faced by the United States during this time?