ECN201 Grantham University Week 3 Housing Bubble and Collapse Discussion Microeconomics – Week #3 Assignment Housing Collapse Paper After reading Special T

ECN201 Grantham University Week 3 Housing Bubble and Collapse Discussion Microeconomics – Week #3 Assignment Housing Collapse Paper After reading Special Topic 5, write a 2-page paper answering the following: Why did housing prices rise rapidly during 2002 – 2005? Why did the mortgage default rate increase so sharply during 2006 and 2007 even before the 2008 – 2009 recession began? What did the Community Reinvestment Act have to do with the housing bubble and collapse? Cite your sources as needed.Use APA formatting