<P> The United States housing bubble was a real estate bubble affecting over half of the U.S. states . Housing prices peaked in early 2006 , started to decline in 2006 and 2007 , and reached new lows in 2012 . On December 30 , 2008 , the Case - Shiller home price index reported its largest price drop in its history . The credit crisis resulting from the bursting of the housing bubble is -- according to general consensus -- an important cause of the 2007 -- 2009 recession in the United States . </P>
<P> The United States housing bubble was a real estate bubble affecting over half of the U.S. states . Housing prices peaked in early 2006 , started to decline in 2006 and 2007 , and reached new lows in 2012 . On December 30 , 2008 , the Case - Shiller home price index reported its largest price drop in its history . The credit crisis resulting from the bursting of the housing bubble is -- according to general consensus -- an important cause of the 2007 -- 2009 recession in the United States . </P>
when did the housing market crash in 2008
when did the housing market crash in 2008
December 30
December 30