Foreclosure: This is when someone loses their home because they can't make their mortgage payments. Foreclosures increased dramatically during housing market collapse.
Subprime Loans: These are types of loans offered at rates above prime rate to individuals who are unable qualify for prime rate loans, typically these are high-risk lenders with poor credit history.
Bubble Economy: A bubble economy is an economic cycle characterized by rapid expansion followed by contraction (or burst). The term 'housing bubble' refers specifically to run-up in housing prices fueled by demand, speculation and exuberant behavior before collapsing.