holiday
Dec
22
2010
The U.S. housing market continued to suffer widespread foreclosures in late 2010 as the effects of the financial crisis lingered. Fannie Mae and Freddie Mac remained under government conservatorship while banks processed thousands of defaulted mortgages each month. Families faced eviction amid high unemployment and tightened credit. The cartoon uses a holiday gingerbread house display to underscore how foreclosures had become routine even during the festive season. It highlights the inevitability of continued housing distress following years of lax lending and the subsequent crash.
