What is the current housing crisis?

Question

And what caused it.

Also could you include some links to a website that you got your information from.

Answer 1

The housing crisis was caused by greedy lenders and stupid borrowers. That is the lenders didn't check to see if the borrower could verify their income or how they would serve, pay back, the loan with mortgage payments each month, and the borrower didn't understand what an adjustable mortgages does when the interest rates rise. The two turned in to the housing crisis.

Check out sub-primes mortgages:

http://en.wikipedia.org/wiki/Subprime