During the Foreclosure Crisis several years ago, my community was hit hard. I never thought I would see homes in my neighborhood being foreclosed. It was unbelievable. I was in middle school and high school when this was going on and heard my parents discussing this many times. I look back and think there were things that could have been done to prevent this from being a nation-wide disaster. I believe that there are things that can be done to minimize the effect of a foreclosure crisis again if we can identify it early and put in policies that will help families keep their homes and continue to make progress. I also believe that there could be government funded programs that could have put people to work to help this.
First, I think …show more content…
This idea could even be applied to “flipping” neighborhoods. During the foreclosure crisis, many people lost their jobs in my community. I live in a community outside the city of Detroit which was hit particularly hard. Our community job market was very automotive-based and when the car companies started to struggle, so did our community. Many people lost their jobs. These people were assembly line workers, management, executives-the gamut. Even my father who works in a corrugated and chipboard packaging plant, had to take a significant pay cut and my mother had to take a second job. We were lucky. Other people did not have the luxury of keeping their job even for a smaller salary. My idea is to have the mortgage companies or banks get into the “flipping” business. Hire people who are out of work to update, clean up or completely redo houses that have been foreclosed. I believe that if money is put into these homes and, in turn, neighborhoods, as the economy improves people will be able to move back, with an increase value of the homes and live in newer and nicer homes and neighborhoods. This is being seen in Detroit as investors are not just flipping houses but flipping neighborhoods and creating environments that are proving to be good investments. Metro Detroit
First, I think …show more content…
This idea could even be applied to “flipping” neighborhoods. During the foreclosure crisis, many people lost their jobs in my community. I live in a community outside the city of Detroit which was hit particularly hard. Our community job market was very automotive-based and when the car companies started to struggle, so did our community. Many people lost their jobs. These people were assembly line workers, management, executives-the gamut. Even my father who works in a corrugated and chipboard packaging plant, had to take a significant pay cut and my mother had to take a second job. We were lucky. Other people did not have the luxury of keeping their job even for a smaller salary. My idea is to have the mortgage companies or banks get into the “flipping” business. Hire people who are out of work to update, clean up or completely redo houses that have been foreclosed. I believe that if money is put into these homes and, in turn, neighborhoods, as the economy improves people will be able to move back, with an increase value of the homes and live in newer and nicer homes and neighborhoods. This is being seen in Detroit as investors are not just flipping houses but flipping neighborhoods and creating environments that are proving to be good investments. Metro Detroit