This is some background info.

1. How the market has changed

You may have heard about the 2008 housing crisis. The housing crisis has a lot to do with how much it costs to buy a home. A supply and demand graph can help explain how the housing crisis changed housing prices. Answer the questions below and fill in the supply and demand graphs (without specific numbers). Click on the graphs and hit "Edit" to fill them in.

Graph 1: The Housing Bubble and Crisis

The year 2006 was the height of the housing bubble, when houses to buy were in high demand, and 2008 was the start of the crisis, when demand dropped off dramatically. In this graph, the supply curve is already filled in. Sketch 2 demand curves, one for 2006 and 2008. Label the supply and demand curves. Use an arrow to show how demand changed.

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On question 3 D ,when the equilibrium point dropped , how did the housing market go up?

1. Define "equilibrium point" in your own words. What does the equilibrium point determine? How did it
2. change here?
4. I JUST NEED TO CONFIRM what caused the housing market to go up in this question?