Social anxiety has prevailed in the society since the emergence of civilization. People had fears of speaking up, starting conversations with strangers and many such personal fears. But back then it was very much individualistic. But now post World Wars, 9/11 and the recent recession it has gone much deeper and sunk in the whole community. The social fears are no longer related to a single human being.
The U.S government has declared that U.S, the richest country on this earth, is out of recession. But is it really so? Has life regained its normalcy and become the way it was before recession? Have people squeezed out of the hard pinch given by recession? Has it bought an end to cutting down on necessities? People of America and researches fail to support this statement.
There is no specific definition of a housing bubble. Although it is called the housing bubble, its effects were not limited to real estate and construction sector. It directly or indirectly caused a big turmoil which rendered people in U.S homeless, jobless, collapse of investment banks; drop in consumer spending, plummeted stock market and upheaval in global financial markets.