well...what a surprise..buyers disappearing !, page-19

'no Tailspin, it happened in tandem. you are wrong.'

Actually TheDalek, Tailspin is right, it happened like this:


1) Interest rates rose on all the sub prime loans.
2) The subrpime loans defaulted.
3) The supply of homes going on market pushed prices down.
4) the banks started losing more and more money as they sold the propertys that defaulted on them.
5) the banks totaled up billions in loss's and made a public announcement on what they were losing.
6) The world panicked and a credit crunch started.
7) People stoped spending, and stopped paying bills.
8) know on effect of spending and people not paying their bills was layoff and lack of new work.

So unemployment was the result of the subprime incident.