The Great Consumer Crash of 2009 - ICH

This binge led to 8.5 million total home sales in 2005, about 3.5 million more than what would have been expected based on historical rates. 13. The massive number of excess home sales and equity withdrawal led to huge demand for home furnishings, remodeling services, appliances, electronic gadgets, BMWs, and exotic vacations. ................
................