The American Nightmare: 10 Years After the Housing Collapse
A decade ago, the economy imploded. Between 2007 and 2010, approximately 9 million homes went into foreclosure. As the 10-year anniversary of the 2008 financial crisis approached, The Penny Hoarder asked readers to share their stories from the collapse.
Over and over, we heard the same word: nightmare.
Most didn’t just lose a home. Unemployment, medical debt, divorce and bankruptcy often accompanied the foreclosure.
Few blamed the Wall Street bankers for trading their biggest investments irresponsibly. No one blamed rising home values that went unchecked. Some blamed their mortgage lenders, but most people blamed themselves, even though they knew the crisis was much bigger than them.
For the people who shared their stories, the foreclosure crisis isn’t in the distant past. Many still haven’t regained what they lost.
In “The American Nightmare,” The Penny Hoarder tells the story of lives forever changed by the housing crisis.