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Boom or Bust Cycle in the Modern Times

Boom or Bust Cycle in the Modern Times. Texas History Bonham Middle School 2013-2014. Table of Contents. Real Estate Banking Banking in 2000 Computer Technology. Real Estate. 1970s – Present

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Boom or Bust Cycle in the Modern Times

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  1. Boom or Bust Cycle in the Modern Times

    Texas History Bonham Middle School 2013-2014
  2. Table of Contents Real Estate Banking Banking in 2000 Computer Technology
  3. Real Estate 1970s – Present During the late 1970s when unemployment was low, real estate was in demand and building expanded. Unemployment increased during the early 1980s due to the energy crisis and banking scandals, the demand for real estate decreased. By the early 1990s the economy improved and so did real estate demand.
  4. Banking 1929 – 2000s The stock market crashed and caused the prices of stocks to fall. Many people were left with high debts. Banks ran out of money because they could not collect the money owed to them. Governments did not insure banks and Texans lost all their money. Texans did not have money to spend Factories and businesses were lost and farms were lost. Texas Savings and Loans revealed land flips and other criminal activities. Half of the failed S&L's were from Texas, pushing that state into recession. As bad land investments were auctioned off, real estate prices collapsed, office vacancy rose to 30%, and crude oil prices fell 50%.
  5. Banking in 2000’s By the 2000s, loans were taken out by people buying homes, commercial properties, automobiles, etc. When the economy began to slow people lost jobs and could not pay the loans back.
  6. Computer Technology 1970s – Present The technology business has been on the increase in Texas since the 1970s and booming especially in Austin and Dallas
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