Circle any statement that is true.
A) Since 1990, the U.S. real estate business has been fueled in part by over-leveraged properties and income tax laws.
B) Since the 2007-2008 Financial Crisis, the U.S. real estate business has been characterized by stricter underwriting standards.
C) It is prudent for a lender to loan 110% of the cost of a real estate development because the value will always exceed the cost.
D) None of the above