'07 marked by historic housing slump
Dec. 28 - 2007 witnessed the worst U.S. housing slump in sixteen years -- triggering $80 billion in writedowns.
It wasn't just a slow housing market that negatively impacted financial markets this year-- it was also a meltdown in the sub-prime mortgage market-- that forced more than 200 major U.S. lending operations to drastically cut back their staffs, file for bankruptcy or close their doors completely.
Jon Decker reports.
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