The global financial crisis of 2008 ushered in a new era of consumer protection, but the future of the housing market is uncertain.
Lehman Brothers world headquarters is shown in New York on Sept. 15, 2008, the day the 158-year-old investment bank, choked by the credit crisis and falling real estate values, filed for bankruptcy.Lehman Brothers world headquarters is shown in New York on Sept. 15, 2008, the day the 158-year-old investment bank, choked by the credit crisis and falling real estate values, filed for bankruptcy.The financial giant Lehman Brothers filed for bankruptcy on Sept.
Now, a decade and a half later, housing experts say it's a lot safer for homebuyers to secure a mortgage they'll be able to pay off in the long run. Still, there's worry that some of the financial guardrails put in place after the 2008 financial crisis to secure the mortgage market won't be around forever., Lehman Brothers went on to transform itself into an investment banking powerhouse. By the early 2000s, Lehman began underwriting mortgages and offering mortgage-backed securities alongside other Wall Street investment banks that had likewise gotten into the mortgage business.
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