Affordable housing

of economic prosperity and downturn; both if which will be addressed in this paper. To be able to understand how capitalism is responsible for the economic crisis, it is first important to understand what the 2008 economic crisis was. In 2008, the housing bubble collapsed. Many lenders of mortgages were selling their mortgages…

“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…

The housing market, devastating of the twentieth century, which is called a housing bubble is a metaphor. The housing market is much more than a “bubble.” Many economists and financial analysis blame Congress for pushing lenders to approve loans for people who could not buy homes in the current market, which start occurring in the early 2000s. The collapse of the housing market was not in the hands of a single entity, but by greed. The Government, such as Freddie Mac, Fannie Mae, banks,…

The 2008 Financial Crisis in America was reported to be the worst economic disaster since the Great Depression in 1930’s. Signs of economic failure occurred in 2006, where the housing prices started to fall (Amadeo). The first institution to fail was the Countrywide Financial crop in January 2008. The next victim of this financial crisis was the Wall Street Investment House Bear Sterns during March. However, it was later rescued by JPMorgan Chace, which they dealt to buy it for a bargain price…

Average Cost of New Homes In United States of America Finally after many days of research I narrowed it down to one topic, the Average Cost of new homes in America. Through out this project you will find out if the research supports or rejects its findings by using the quantitative methods taught to me over the course of this semester. What are some methods behind the cost of new homes in united states rising? First thing that comes to mind is politics. Political impacts that move costs, Is it…

In the book “Freakonomics” the authors Levitt and Dubner discuss Real-Estate and how agents benefit more than the client. The real-estate topic provides more convincing evidence that people are only inspired to do things based on incentives. The authors work to prove that realtors are self-motivated people, and are not actually helping people. Real-estate agents are professionals with more information than the client. They know how to manipulate a person to make a decision that will benefit the…

In his essay “The Mansion: A Subprime Parable,” Michael Lewis reported that most Americans tend to desire houses they cannot afford. They start blaming rating agencies and mortgage brokers because they find themselves financially underwater. But according to Lewis claim, the lending business didn’t create this desire. The people did. He explains that most people want a house that reflects how well they are. They think that they will control the house but the truth that the house controls every…

What Are the Similarities Between Holland's Tulip Mania and the U.S Housing Bubble? By: Gigi Cunniffe 8th Grade Mrs. Curry-Miller 11-30-17…

It is true, that the United States Housing Market can be “unpredictable, volatile and cyclical.” I believe it is crucial to familiarize ourselves with the past mistakes so that we can set up precautions and measures to ensure that another housing disaster does not occur. In the 1980s, we were faced with what was called the Savings and Loan Crisis. According to Kenneth J. Robinson, author of his article, Savings and Loan Crisis, “In the 1980s, the financial sector suffered through a period of…

Classism and Greed and Zombies Economic issues afflict the modern American citizen; namely the housing crash in 2008, the disappearance of the middle class, the crippling national debt, and the divide between the one percent and the rest of the population. The struggle amongst classes, however, can be seen throughout history and is by no means a new topic. The 2016 film Pride and Prejudice and Zombies presents such strife in Georgian era setting while also peering through a modern lens. The…