MrSteve,
I think you may have it back the front.
Subprime is the result of lending to high risk borrowers when interest rates in the US were at historical lows.
Subsequently as interest rates increased, these people were unable to make the repayments which led to foreclosures.
In conjunction unsustainable property price levels were reached relative to incomes, hence property prices fell.
real estate to hot up on stock market depressd, page-8
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