History of the United States II / Unit 17 USH2 2424 short lesson, about 20 seconds
Underwater
Captions available
The idea
By two thousand nine nearly a quarter of home mortgages were underwater, the homeowner owing more than the house was worth, the anchor records.
In practice
Millions defaulting into foreclosure or bankruptcy after job losses, wage cuts or rising adjustable payments.
Where people slip
Many resented the bailout of the rich, the anchor says, as ordinary citizens lost jobs and homes.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
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