Practice 3: Organizing, paragraphs activities.

 • Recession of 2008–9 gave support to theory in some US states (e.g. California, Michigan and Florida) 

• They had major housing boom in 1990s 

• After recession rate of house moving fell sharply 

• One factor was number of households in negative equity 

• Having negative equity means selling house at loss 

• High rates of ownership may deepen recession if labour is more static.

1	It is well known that recession of  2008-9 gave support to theory in some US states, such as California, Michigan and Florida.
2	For instance, they had major housing boom in 1990s.
3	In spite of that, after recession, rate of house moving fell shaprly.
4	One of the factors that caused this happens was number of households in negative equity.
5	We can explain negative equity as a factor that means lose money because you have to sell the house for less money.
6	To sum up, we can assume that high rates of ownership may deepen recession if labour is more static.