The Instructor of the Kadir Has University, Faculty of Economics and Social Units Professor Associate Dr.Eray Yucel, said that the biggest reason of the 2008 crisis in the West are the inflated housing prices.
Professor Associate Dr.Eray Yucel, made a presentation within the traditional Tuesday Seminar’s of the Kadir Has University about the mortgage establishments Fannie Mae and Freddie Mac being nationalized and the global 2008 crisis which gained a size with the bankruptcy of Lehman Brothers.He said that the biggest reason that the 2008 crisis which happened in the West, is the ‘housing bubble’ and added that this process was a lesson for all the world and humanity but also a painful period.
The Professor Associate Dr.Yucel started at his presentation, that the real estate caused 2008 crisis had more material losses than the previous stock market caused crisis.” This means that the global crisis caused more big and stunning losses than the other stock market crisis.In a world where the values which are based on the estate are transacted in a higher lever is this determination very normal. “Dr.Yucel took attention to the existing ‘euphoria’ in the world economy in the beginning of the 2000’s and said that,” At the time was generally in the world an enthusiastic financial-economic atmosphere.We are talking about a structure which expanded through its verified prophecy.
This crisis we are talking about consists of a declaration that it cant continue with the institutions.The global crisis came on the agenda because the central economies created unhealthy prices with their existing institutions and couldnt prevent the collapse.
The Professor Associate Dr.Yucel said also that the explotion process of the housing bubble took less than the creation process of itself.