In sum, I would underline that it is the task of all the stakeholders of the global financial system, regardless of whether they belong to the private or the public sector, to live up to their respective responsibilities and contribute appropriately to the stability of this system.
On an annual basis, both new and existing home sales did not increase again until 2012, and they remained at modest levels for several years thereafter. Given the large and persistent inventory overhang of unsold homes in the aftermath of the crisis, the construction of new homes was also sluggish for many years into the recovery.