{"id":221261,"date":"2023-10-14T20:02:38","date_gmt":"2023-10-14T20:02:38","guid":{"rendered":"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/"},"modified":"2023-10-14T20:02:38","modified_gmt":"2023-10-14T20:02:38","slug":"what-causes-the-decline-in-real-estate-value-2007-2008","status":"publish","type":"post","link":"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/","title":{"rendered":"What causes the decline in real estate value 2007-2008?"},"content":{"rendered":"<p>The years 2007 and 2008 were marked by one of the most significant economic downturns in recent history. The collapse of the real estate market played a pivotal role in triggering the global financial crisis of that time. Understanding the causes behind the decline in real estate value during this period is crucial to comprehend the factors that contributed to such an immense economic upheaval.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#The_Housing_Bubble\" title=\"The Housing Bubble\">The Housing Bubble<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#Subprime_Mortgage_Crisis\" title=\"Subprime Mortgage Crisis\">Subprime Mortgage Crisis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#Declining_Mortgage_Standards\" title=\"Declining Mortgage Standards\">Declining Mortgage Standards<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#Speculative_Investing\" title=\"Speculative Investing\">Speculative Investing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#Securitization_of_Mortgages\" title=\"Securitization of Mortgages\">Securitization of Mortgages<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#Lax_Regulatory_Oversight\" title=\"Lax Regulatory Oversight\">Lax Regulatory Oversight<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#Excessive_Risk-Taking\" title=\"Excessive Risk-Taking\">Excessive Risk-Taking<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#Global_Impact\" title=\"Global Impact\">Global Impact<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#The_Role_of_Speculation\" title=\"The Role of Speculation\">The Role of Speculation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#Unemployment_and_Economic_Slowdown\" title=\"Unemployment and Economic Slowdown\">Unemployment and Economic Slowdown<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#Financial_Leverage\" title=\"Financial Leverage\">Financial Leverage<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#Tightened_Credit_Availability\" title=\"Tightened Credit Availability\">Tightened Credit Availability<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#Questions_to_Consider\" title=\"Questions to Consider:\">Questions to Consider:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#1_How_did_the_bursting_of_the_housing_bubble_contribute_to_the_decline_in_real_estate_value\" title=\"1. How did the bursting of the housing bubble contribute to the decline in real estate value?\">1. How did the bursting of the housing bubble contribute to the decline in real estate value?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#2_What_was_the_subprime_mortgage_crisis\" title=\"2. What was the subprime mortgage crisis?\">2. What was the subprime mortgage crisis?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#3_What_were_the_causes_of_relaxed_mortgage_approval_standards\" title=\"3. What were the causes of relaxed mortgage approval standards?\">3. What were the causes of relaxed mortgage approval standards?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#4_How_did_speculative_investing_influence_the_decline_in_real_estate_value\" title=\"4. How did speculative investing influence the decline in real estate value?\">4. How did speculative investing influence the decline in real estate value?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#5_What_role_did_securitization_of_mortgages_play_in_the_crisis\" title=\"5. What role did securitization of mortgages play in the crisis?\">5. What role did securitization of mortgages play in the crisis?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#6_How_did_lax_regulatory_oversight_contribute_to_the_decline_in_real_estate_value\" title=\"6. How did lax regulatory oversight contribute to the decline in real estate value?\">6. How did lax regulatory oversight contribute to the decline in real estate value?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#7_How_did_excessive_risk-taking_impact_the_real_estate_market\" title=\"7. How did excessive risk-taking impact the real estate market?\">7. How did excessive risk-taking impact the real estate market?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#8_Why_did_the_crisis_have_a_global_impact\" title=\"8. Why did the crisis have a global impact?\">8. Why did the crisis have a global impact?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#9_What_is_the_relationship_between_speculation_and_real_estate_market_collapse\" title=\"9. What is the relationship between speculation and real estate market collapse?\">9. What is the relationship between speculation and real estate market collapse?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#10_How_did_unemployment_and_economic_slowdown_affect_the_decline_in_real_estate_value\" title=\"10. How did unemployment and economic slowdown affect the decline in real estate value?\">10. How did unemployment and economic slowdown affect the decline in real estate value?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#11_How_did_financial_leverage_contribute_to_the_decline_in_real_estate_value\" title=\"11. How did financial leverage contribute to the decline in real estate value?\">11. How did financial leverage contribute to the decline in real estate value?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#12_How_did_tightened_credit_availability_affect_the_decline_in_real_estate_value\" title=\"12. How did tightened credit availability affect the decline in real estate value?\">12. How did tightened credit availability affect the decline in real estate value?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Housing_Bubble\"><\/span>The Housing Bubble<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The primary cause of the decline in real estate value in 2007-2008 was the bursting of the housing bubble. Over the preceding years, an unsustainable increase in housing prices occurred due to speculative investing, subprime lending practices, and lax government regulations. As a result, property values reached an artificially inflated level, far exceeding their intrinsic worth.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Subprime_Mortgage_Crisis\"><\/span>Subprime Mortgage Crisis<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Underlying the housing bubble was the subprime mortgage crisis. Financial institutions offered mortgages to borrowers with low creditworthiness, known as subprime borrowers, often without verifying income or employment status. These risky mortgages were packaged into mortgage-backed securities (MBS) and sold to investors, spreading the risk throughout the financial system.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Declining_Mortgage_Standards\"><\/span>Declining Mortgage Standards<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Lenders relaxed their mortgage approval standards, allowing a broader range of people to qualify for loans. Adjustable-rate mortgages (ARMs) and interest-only loans became popular, attracting borrowers who were unable to afford conventional fixed-rate mortgages. When interest rates began to rise and housing prices dropped, many homeowners found themselves unable to meet their mortgage obligations.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Speculative_Investing\"><\/span>Speculative Investing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>During the real estate boom, many people saw housing as an easy way to make quick profits. Speculative investors purchased multiple properties in the hopes of flipping them for significant gains. This excessive demand further drove up prices, contributing to the housing bubble. When the bubble burst, these investors were left with overvalued properties and heavy financial losses.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Securitization_of_Mortgages\"><\/span>Securitization of Mortgages<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The securitization of mortgages, where individual loans were bundled together and sold as investment products, played a crucial role in the crisis. Mortgage-backed securities (MBS) became increasingly complex and interconnected with various financial instruments, making it difficult to assess their true value. When a significant number of borrowers defaulted on their mortgages, it triggered a widespread crisis within the financial system.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Lax_Regulatory_Oversight\"><\/span>Lax Regulatory Oversight<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The regulatory environment leading up to the crisis was characterized by a lack of oversight and insufficient government regulations. Financial institutions operated with minimal scrutiny, which enabled them to engage in risky lending practices and create complex, opaque financial products. This lack of regulation exacerbated the housing bubble and the subsequent collapse.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Excessive_Risk-Taking\"><\/span>Excessive Risk-Taking<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>During the boom years, financial institutions took on excessive risks by leveraging their balance sheets heavily. They invested in subprime mortgages and relied on complex financial instruments to spread the risk. When the housing market collapsed, the interconnected risks within the financial system were exposed, leading to widespread losses and financial instability.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Impact\"><\/span>Global Impact<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The decline in real estate value in 2007-2008 was not limited to the United States alone. The crisis had a global impact due to the interconnectedness of financial markets. Many countries experienced a decline in their real estate markets and suffered from the ripple effects of the crisis, causing a worldwide recession.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Role_of_Speculation\"><\/span>The Role of Speculation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Speculative behavior, both by individual investors and financial institutions, played a significant role in driving up real estate prices. Speculation created an artificial demand that pushed prices beyond a sustainable level. When market confidence waned, and speculative investments became unprofitable, the real estate market collapsed.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Unemployment_and_Economic_Slowdown\"><\/span>Unemployment and Economic Slowdown<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The decline in real estate value also resulted from the subsequent increase in unemployment and economic slowdown. As the crisis unfolded, companies faced financial difficulties, leading to widespread layoffs. This increase in unemployment, coupled with the uncertainty surrounding the economy, decreased consumer spending and negatively impacted the real estate market.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Leverage\"><\/span>Financial Leverage<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Many individuals and financial institutions utilized high levels of financial leverage to purchase real estate. This means they borrowed a significant portion of the property&#8217;s value, often with little equity or down payment. When the market declined, the value of the properties dropped below the outstanding mortgage balance, leading to negative equity and widespread defaults.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tightened_Credit_Availability\"><\/span>Tightened Credit Availability<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Following the collapse of the real estate market, lenders adopted more stringent lending practices. They became reluctant to provide credit, tightening loan availability. This reduced demand for real estate further contributed to declining property values.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Questions_to_Consider\"><\/span>Questions to Consider:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"1_How_did_the_bursting_of_the_housing_bubble_contribute_to_the_decline_in_real_estate_value\"><\/span>1. How did the bursting of the housing bubble contribute to the decline in real estate value?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nThe bursting of the housing bubble resulted in a sudden decrease in property values as the market corrected itself from the unsustainable price levels.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_What_was_the_subprime_mortgage_crisis\"><\/span>2. What was the subprime mortgage crisis?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nThe subprime mortgage crisis refers to the high number of mortgage defaults by borrowers with low creditworthiness, causing a ripple effect on the financial system.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_What_were_the_causes_of_relaxed_mortgage_approval_standards\"><\/span>3. What were the causes of relaxed mortgage approval standards?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nRelaxed mortgage approval standards were caused by lenders seeking higher profits and a greater customer base, leading to an increase in risky lending practices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_How_did_speculative_investing_influence_the_decline_in_real_estate_value\"><\/span>4. How did speculative investing influence the decline in real estate value?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nSpeculative investing created an artificial demand that further drove up housing prices, contributing to the housing bubble and subsequent collapse.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_What_role_did_securitization_of_mortgages_play_in_the_crisis\"><\/span>5. What role did securitization of mortgages play in the crisis?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nThe securitization of mortgages resulted in the creation of complex financial products that spread risk throughout the financial system, making it harder to assess true asset values.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_How_did_lax_regulatory_oversight_contribute_to_the_decline_in_real_estate_value\"><\/span>6. How did lax regulatory oversight contribute to the decline in real estate value?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nLax regulatory oversight allowed financial institutions to engage in risky lending practices without sufficient oversight, enabling the creation of a housing bubble.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_How_did_excessive_risk-taking_impact_the_real_estate_market\"><\/span>7. How did excessive risk-taking impact the real estate market?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nExcessive risk-taking, fueled by high leverage and complex financial instruments, exacerbated the crisis when numerous borrowers default on their mortgages.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"8_Why_did_the_crisis_have_a_global_impact\"><\/span>8. Why did the crisis have a global impact?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nThe interconnectedness of financial markets and the global economy resulted in the crisis spreading to other countries, causing a worldwide recession.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"9_What_is_the_relationship_between_speculation_and_real_estate_market_collapse\"><\/span>9. What is the relationship between speculation and real estate market collapse?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nSpeculation creates an artificial demand that drives up prices, but when market confidence wanes, the real estate market collapses as speculative investments become unprofitable.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"10_How_did_unemployment_and_economic_slowdown_affect_the_decline_in_real_estate_value\"><\/span>10. How did unemployment and economic slowdown affect the decline in real estate value?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nThe increase in unemployment and economic slowdown reduced consumer spending, leading to decreased demand for real estate and declining property values.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"11_How_did_financial_leverage_contribute_to_the_decline_in_real_estate_value\"><\/span>11. How did financial leverage contribute to the decline in real estate value?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nHigh levels of financial leverage meant that when property values fell, borrowers owed more on their mortgages than their properties were worth, leading to widespread defaults.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"12_How_did_tightened_credit_availability_affect_the_decline_in_real_estate_value\"><\/span>12. How did tightened credit availability affect the decline in real estate value?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nTightened credit availability reduced the number of buyers in the market, decreasing demand for real estate and contributing to declining property values.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The years 2007 and 2008 were marked by one of the most significant economic downturns in recent history. The collapse of the real estate market played a pivotal role in triggering the global financial crisis of that time. Understanding the causes behind the decline in real estate value during this period is crucial to comprehend &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"What causes the decline in real estate value 2007-2008?\" class=\"read-more button\" href=\"https:\/\/namso-gen.co\/blog\/what-causes-the-decline-in-real-estate-value-2007-2008\/#more-221261\">Read more<span class=\"screen-reader-text\">What causes the decline in real estate value 2007-2008?<\/span><\/a><\/p>\n","protected":false},"author":55,"featured_media":107420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86279],"tags":[],"class_list":["post-221261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-learn","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What causes the decline in real estate value 2007-2008?<\/title>\n<meta name=\"description\" content=\"The years 2007 and 2008 were marked by one of the most significant economic downturns in recent history. 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