Before the Real-Estate bubble exploded, The banks made it extremely easy for people to borrow money to buy real estates. This make people make a lot of loans to buy properties thinking that the value of the properties will eventually increased and they can pay back their loans.
When the bubble exploded, the value of the properties that they hold massively declined. Following this, furniture, appliances, and home improvements which considered as<em><u>complimentary products </u></em>For other properties also declined.
Now the consumers trapped in huge loans without having any assets to make back it up. Making it extremely hard for them to borrow another money since their chance of paying them back was extremely low.
The British government ended its policy of salutary neglect, which was essentially a very hands-off way of governing the colonies, when it implemented and enforced taxation laws such as the Townshend and Stamp Acts.
Addiction is a repetitive habit that degenerates or causes some harm to the addict and those who live with him. The limit between a habit and addiction lies in the consequences they have on the person's life. Addiction takes the individual away from his essence and makes him focus more on obtaining pleasure through dependence than on the life he used to lead.
