Final answer:
The Great Recession was a global economic downturn characterized by high unemployment rates and a decrease in consumer spending. One problem it caused for people in the United States was a wave of home foreclosures due to job losses and falling incomes.
Step-by-step explanation:
The Great Recession
The Great Recession refers to the severe economic downturn that occurred globally in the late 2000s, following the collapse of the housing market and the financial crisis. It was characterized by a sharp decline in economic activity, high unemployment rates, and a significant decrease in consumer spending.
One of the problems caused by the Great Recession was the wave of home foreclosures in the United States. Many people couldn't afford their mortgage payments due to job losses and falling incomes, resulting in the loss of their homes. This led to a housing crisis and negatively impacted individuals and families.
Learn more about The impact of the Great Recession on people and housing market