time in history, in mid-2006, and hits levels above 14,000 in 2007; however levels have dropped to around 8,000. In 2006-2007, the United States housing market made a sharp downturn, with home sales falling to levels not seen in a decade. Median home prices began slipping. The effects of the housing downturn on the overall economy are still being determined as of 2007, though by July–August 2007, worries over a "credit crunch" emerged and increasing numbers of economists and CEOs feared the economy would slip into a recession. The gross domestic product in the United States continued slowing in 2007. A barrel of oil peaked at $140 in mid-2008, and banks became less willing to lend money to each other. Inflation is already rising across many industrialized countries. The American housing market caused difficulty for the two mortgage brokers Fannie Mae and Freddie Mac, which have been subject to fears of collapse. Some economists have labeled the decade a "lost decade" because there were "zero economic gains for the typical American family." See also 2000s List of countries by motor vehicle production in the 2000s References Economics 2000s decade overviews