big作文【一】
The United States subprime mortgage crisis was a nationwide financial crisis , occurring between 20xx and 20xx, that contributed to the US recession of December 20xx – June 20xx . It was triggered by a large decline in home prices after the collapse of a housing bubble , leading to mortgage delinquencies, foreclosures, and the devaluation of housing-related securities . Declines in residential investment preceded the recession and were followed by reductions in household spending and then business investment. Spending reductions were more significant in areas with a combination of high household debt and larger housing price declines.
