The United States Subprime Mortgage Crisis was a series of events and conditions that led to a financial crisis and subsequent recession that began in 2008. It was characterized by a rise in subprime mortgage delinquencies and foreclosures. The crisis had severe, long-lasting consequences for the U.S. economy.
Between June 2007 and November 2008, Americans lost more than a quarter of their net worth. Nearly 9 million jobs were lost during 2008 and 2009, roughly 6% of the workforce. U.S. housing prices fell nearly 30%. Nevada was the worst-hit state in the country with one home foreclosure filing for every 23 households.
In September 2008, several major financial institutions collapsed. By early 2009, the U.S. stock market average fell approximately 50%.
The Sub-Prime Mortgage Crisis Bailout Coloring Book will introduce to the children of America the unprecedented burden imposed on them, and generations to come.
The Subprime Mortgage Crisis Bailout Coloring Book
by LG Williams / The Estate of LG Williams
2013, Paperback, 207 pages
PCP Press $29.95