The banking industry relies on continuously increasing asset values, most notably housing prices.
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What happens when housing prices fall? Loans stop getting paid back, and banks take losses. Lending grinds to a halt, and crashes happen.
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Replying to @reactionary2017
The asset price-lending relationship has always been important
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Replying to @reactionary2017
Widespread mortgages are relatively new
12:11 PM - 19 Sep 2017
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