In the events of the housing bubble collapsing, once the housing prices stopped increasing refinancing:
A) was no longer an option, and a wave of foreclosures occurred.
B) no longer allowed people to borrow cash on the new value of their home, and spending slowed.
C) became less popular, and people's consumption overall dropped.
D) became more popular, and people's consumption accelerated overall.
Correct Answer:
Verified
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