Effect of the Credit Crunch on the Real Estate Market - An Analysis
A proper definition of the term credit crunch is needed so that its effects on the real estate market can be properly analyzed. During a credit crunch, lenders stop lending, and they hold on to their capital because they fear lending money because there are rising bankruptcies, mortgage defaults and job losses, and other factors that increase the risk of a person not being able to repay a loan. People who should otherwise have gotten approved for mortgage loans were turned away.
from: http://ezinearticles.com/?Effect-of-the-Credit-Crunch-on-the-Real-Estate-Market---An-Analysis&id=3637386
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