Chapter . Housing Crisis
After years of dangerously inflated house prices, the real estate market tumbled and then took a nosedive. Thousands of Americans with subprime mortgages and homes that they couldn’t afford faced foreclosure at the hands of greedy lenders. The rental market was crushed with a sudden influx of tenants; prices rose. Suddenly, even debt-free employed newlyweds couldn’t get a decent mortgage. And the government’s huge bailouts for Fannie Mae and Freddie Mac only helped the guys who had perpetrated the subprime debacle in the first place. For some cartoonists, it all hit close to home.