The Foreclosure Problem in America Essay
Our parents and grandparents in the boom years following World War II lived in a world in which our economy boomed through scientific, industrial and technological expansion. The American standard of living correspondingly increased as the people reaped the benefits of such a boom. Such unprecedented economic growth benefited the average American, who prospered and shared in the rewards, partially attributed to his work ethic and also to an undeniable sense of personal fiscal responsibility. The banking industry also flourished because it recognized these attributes and encouraged the stimulus that came from the working and industrial populations. There was a sense of accomplishment and pride between one another and for each other, complete without a drive motivated by greed, and though this was a simpler time, America’s investment in itself paid off. The manufacturing industries became true world class leaders, employers thrived and businesses grew.
Things have changed substantially with this latest generation since the times described above. While economists can argue over the manufacturing, housing and business decisions that have brought us to today’s