Affordable housing

As stated earlier, a housing bubble is a quick incline in housing prices over an extended period of time, but why was this housing bubble is worse than ones our economy had been through in the past. During the time period of 1995 to 1999 the United States housing market grew at a slow rate but it was a constant and consistent slow rate. This trend changed when the stock market crashed in March of 2000. The way people were investing their money after the crash changed, instead of putting their…

Illinois filed suit against Wells Fargo, the nation’s largest mortgage lender, claiming over $300 million in damages. The suit alleged that Wells Fargo’s unethical practices unfairly targeted low-income, minority families and contributed to the housing crisis that left the city with abandoned buildings and million of dollars lost in property taxes. The banking institution was accused of knowingly distributing home loans to black and Hispanic customers, many of whom would not have been able to…

the lead up to the stock market crash of 2008, Christine Lagarde said “The financial industry is a service industry. It should serve others before it serves itself.” The year 2008 was a huge scare for the common man in the United States. When the housing market crashed, everyone saw their lives change before their eyes and feared for their future. Stocks went down faster than the speed of light and with time of change heading towards the United States of America as there was a race for a spot…

was the bursting of the housing bubble in 2005. The bursting of the housing bubble was primarily triggered by what is commonly referred to as the subprime mortgage crisis. The subprime mortgage crisis came about from many banking and governmental policies that encouraged home ownership, in the manner that banks were providing home owner loans to people with lower credit reliability, as well as an overvaluation of certain subprime mortgages on the theory that the housing prices would continue to…

Spring has sprung, and so has the housing market. In just one month, the seasonally annual adjusted rate of sales of new-single family homes has increased 4 percent. Additionally, sales of homes in the $200,000 to $299,999 ranges increased 5 percent. The weather is finally shifting and more people are buying homes, but they are still struggling with the same issues in determining how to finance their home purchases. For new homebuyers, it can be overwhelming trying to budget for the…

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…

As I stared at the blank white page in front of me I had no idea what to write. Frustration bubbled up inside me like steam building up in a tea kettle, and I wanted to scream. I had a research paper due in less than a week for my economics class about the Great Recession, but nothing was coming to me. All I could think of were questions. What did I have to say? What did I really learn during all the hours I spent studying the causes and effects of the Great Recession? How did this even affect…

Housing affordability and the ability of individuals to acquire accessible, affordable and secure housing is an issue which has provoked many legal and non – legal responses aimed at addressing the issue. Legal responses to housing affordability have been highly effective and include the National Affordable Housing Agreement (NAHA) and the National Rental Affordability Scheme (NRAS), however, also lack in effectiveness to a smaller extent in certain aspects. On the other hand, non – legal…

Jersey's Fair Housing Act, N.J.S.A. §§ 52:27D-301 to 52:27D-329.19, is a statutory scheme intended to ensure that municipalities fulfill their constitutional obligation to provide affordable housing to New Jersey's low-and moderate-income residents. Under the Act, the New Jersey Housing and Mortgage Finance Agency (HMFA) is charged with the responsibility of establishing programs to assist municipalities in meeting their obligation to provide affordable low-and moderate-income housing. N.J.S.A.…

wonder if the developers ask for concessions from the city of Scarborough, at that particular time. Currently, it is not unusual that in order to build on prime property oft times developers will make special concessions with the city to build affordable housing in the certain area in…