Practice 3: "Organizing, paragraphs activities"
1 | The recession that took place in 2008 and ended after a year, supported the theory, previously named, in some US states, such as California, Michigan and Florida |
2 | The states previously named had a major housing boom in the 1990s. |
3 | However, after the recession rate of house moving, that boom fell sharply. |
4 | This was due to a number of factors, but one of the most relevant one was the number of negative equity. |
5 | The term "negative equity" is very abstract, but it can be explained like having a loss when you have sold a house. This means you lose some of the money your house cost you when you bought it in the past. |
6 | It is clear that if labour is more static, as a result, high rates of ownership can deepen the recession. |
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