The financial crisis was the horror for many companies and households alike. All over the world, but especially in North America and Europe a lot of countries were hit very hard by the crisis. Banks collided, as they did not build their business on stable and trustworthy financing models and initiated a certain domino effect that brought several banks to fall. As a matter of fact a lot of companies and households were not able to finance their projects anymore and struggled a lot to maintain their own businesses. Unemployment and bankruptcy were the case for many individuals, which provoked tragic situations in a lot of families.
Although the financial crisis seems to be overcome, economies all over the world still face its effects and many people do still have troubles financing their real estate our other expensive investments.