| From Marketwatch.com: The past four years have seen a significant deleveraging cycle prompted by an over-extension of credit, a disconnect between originators and owners of commercial and consumer credit, and a broad failure of risk measures to gauge the impact of a real estate downturn.
Debt-to-income ratios of consumers rose sharply, creating the unsustainable environment where the rate of appreciation would have to increase to keep loans from defaulting. This did not happen..............................................Full Article: Source
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