In 2007 and 2008, the government faced a housing crisis caused by

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The housing crisis of 2007 and 2008 was primarily caused by a surge in foreclosures, which resulted from the subprime mortgage crisis. Many people were unable to keep up with their mortgage payments, leading to a wave of foreclosures and a glut of unsellable homes on the market. This, in turn, contributed to a sharp decline in home prices and caused significant problems in the financial industry. While there were other factors that contributed to the crisis, such as risky lending practices and a lack of government oversight, the foreclosure crisis was the primary cause.

In 2007 and 2008, the Government Faced a Housing Crisis