New Deal Advertisement Analysis

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“The collapse of the United State economy in the 1930s forced government to enact a housing program – part of President Franklin Roosevelt’s New Deal program”. (Macionis, p. 325, 2013) The New Deal program allowed public housing policies; which provides financial grant to homeowners and builders. Originally conceiving this ideas seems to be a good answer for urban housing problematic but this plan didn’t flourish with serious inadequacy.

More than a decade ago, there were a flood of advertisement, mail-out and commercial from Real Estate companies and investors buying and selling homes. Diverse of flashy advertisement about “zero down payment” or “bad credit or no credit” “no closing cost “or “no income verification” and others ads. This makes the American dream seems attainable to many hard-working buyers. What makes this fantasy so rampant is the impression that everyone, no matter who you are can reach this aspiration.

Yale University economist Robert Shiller and University of North Florida Professor of real estate William F. Sheffield and Sid Rosenberg warn about of a ruthless outcome to the bubble are on the rise. Shiller stated “housing prices was spurred in part by people who got rich in the dot.com boom”. (Times, 2005) Then suddenly, news aired about mortgage foreclosures, describing the single biggest financial …show more content…
Greediness and only greediness, foreclosure and housing crisis are a big money scam. History tends to repeat itself, only then we will know if both buyers, sellers and lenders learn. The text stated “innovations in housing improve the quality of life. Are they learning from Western mistakes or is their situation even worse?” (Macionis, p. 349, 2013). A saying used by the Better Business Bureau years ago stated” If it sounds too good to be true, it usually is. ” There are a lot of shady business practice out

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