Financial meltdown associated with subprime mortgage lending

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During the recession of 2008–2009, many workers who lost their jobs were unable to afford to move to a new job in a new city and pay rent or buy another home because they could not sell the home they were in that still had mortgages. This was because of the crash of the housing market caused by the financial meltdown associated with subprime mortgage lending. What effect would you expect this to have on the natural unemployment rate?

Reference no: EM131076636

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