PRACTICE 3. "Organising paragraphs activities" (6B)

 The recession of 2008-9 gave support to theory in some US states, like California, Michigan or Florida. This is because they had a major housing boom in 1990s. After recession rate of house moving fell sharply. One of the factors was the number of households in negative equity. Therefore, having negative equity means selling house at loss. But above all, high rates of ownership may deepen recession if labour is more static.