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What was a major cause of the US recession that began in 2008?

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What was a major cause of the US recession that began in 2008? A. Defaults on mortgages for homes
B. Consumers not buying new homes
C. Damage from Hurricane Katrina
D. A rise in the American stock market




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    1. Quizzma Team

      The correct answer is A. Defaults on mortgages for homes.

      The major cause of the US recession that began in 2008 was primarily due to the rise in defaults on subprime mortgages. Many homeowners had taken out loans they could not afford, leading to a spike in foreclosures. This situation caused significant turmoil in the housing market and was a significant factor that contributed to the financial crisis, affecting banks and the economy as a whole. This resulted in the recession that followed.

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