The present economical crisis is fundamentally both a financial and a real estate crisis. It started paradoxically in the United States within the housing sector, where the price and market reversal in 2005 were a major reason for bank difficulties and by contagion for the financial crisis in the United States. This paper gives an historical overview about the fundamentals of the housing real estate crisis in the United States.
NAPPI-CHOULET, I. (2009). Retour sur la crise immobilière américaine. Réflexions Immobilières, pp. 1-8.