What was e housing bubble?

The housing bubble refers to a period of rapid increase in housing prices, driven by speculation, easy credit, and high demand, which ultimately became unsustainable. This bubble peaked in the mid-2000s, particularly in the United States, and burst around 2007-2008, leading to a significant decline in home values and widespread foreclosures. The collapse contributed to the global financial crisis, exposing vulnerabilities in financial systems and triggering a recession. Many homeowners found themselves with mortgages far exceeding their property values, resulting in economic turmoil.