Fixing The Housing Market Essay

1058 words - 4 pages

To really be able to fix the housing market, we have to look at how it got so bad to begin with. Banks were giving loans out to people who couldn’t afford to repay them. That was, what I see, as the most detrimental situation regarding the housing market. Are the banks only to blame? Absolutely not. Those people who took those loans with little thought of repercussions also caused this mess. We shouldn’t be borrowing money so loosely and the banks should not have made it so easy.
Regardless of cause and effect, we are in this situation and must find ways to deal with it. Sure, the $8,000 credit to first time buyers and $4,500 credit for second time buyers is nice and it makes it easier for people to buy their first home, but what about the people who are not first time buyers? What about people moving to different areas and those people who have already lost their homes?
The government, as of now, has fallen into a bad routine: Throw some money at it and make it go away. These are short-term fixes to a long-term problem. By looking at this on a strictly monetary scale, we are not forced to look at our own accountability. We as Americans have developed this notion that the government should take care of us somewhere along the lines. More government is not the answer. To me, this is the easy way out. Besides, do we really want the government so involved in aspects of our lives they have no business being a part of?
My worry is where is this money coming from? It doesn’t appear out of thin air. How are they paying for all this? Our deficit is getting bigger and bigger and nothing is being done to fix this. Are we taxing big companies more than is deserved? The Democrat way of thinking is if someone makes more money, they should be penalized through more taxes. This is completely unfair to people and businesses who have done well in their fields. Does the government think that these businesses are going to eat these losses? That is why so many people are getting laid off and why so many businesses are going overseas. Instead, why not offer tax breaks? This will keep them in the states, will keep people employed, and in return, will keep people in their homes paying their mortgages.
If the government really wants to help, instead of throwing money at citizens why not offer money management courses and tips on balancing a budget free of charge to the public. It is insulting to me as an educated American for the government to feel they can just take care of the mess and move on. They are still not getting into the core: Why are we so bad with money? Where did we get this idea that we were entitled to material things and monies that we have not earned and cannot afford? The days of hard-work and self-reliance are moving past us and it is important that we don’t lose sight of these fundamental characteristics.
As a teacher of special needs children, I feel it is more important for my students to understand life skills and...

Find Another Essay On Fixing the Housing Market

An Investigation into the Housing Market

1143 words - 5 pages An Investigation into the Housing Market Economics Describe and analyse the changes of housing in the local area over the last 5 years The housing market is one of the most talked about topics in the news. I assume this is due to the high influential potential it holds to the rest of the economy. In this essay I will focus on the causes in house prices. I will investigate how prices have changed nationally and locally. I

An Analysis of How the Housing Market Affects Impoverished Neighborhoods

1604 words - 7 pages I. Introduction The housing demographics of low-income communities have large effects for residents living in those areas. The objective of this report is to shed light on how the housing market in the city of Oakland affects current and future residents. In order to analyze its affects, I look at several factors within the housing market. There are several factors explaining why cities similar to Oakland are continually impoverished and

Gentrification and White Preference in the Rhode Island Housing Market

1321 words - 6 pages middle class whites. However, even as these examples do fully show the extent of gentrification, they are based in major cities, and when compared with Rhode Island, gentrification appears in a few different ways, in multiple smaller cities. For example, the city of Newport is one of the strangest examples of gentrification and white preference in the housing market in the entire country. For one, the wealth gap between whites and blacks in

A Perfectly Competitive Market and the Housing Industry

1419 words - 6 pages buyers and sellers there are, the less bargaining authority they both have. So no matter how much is purchased, the price stays constants. Moreover, buyers are said to be price takers. However, in the housing market, there are a variety of houses to choose from; for example, some buyers will consider how big, the location, and the price of the house they want to buy. In this particular economic setting, the housing market has certain real estate

THE UK HOUSING MARKET IS BROKEN - Bsc Business management - Business management

1666 words - 7 pages THE UK HOUSING MARKET IS BROKEN Finally, an admission from the chancellor that Britain’s housing market is well and truly broken. Even a political party overflowing with estate agents, landlords and property developers knows the housing market is falling, not least because their own sons and daughters despair at affording a home. But grand promises of 400,000 new homes, a help-to-buy scheme in London, and a doubling in the budget may still not

An analysis of the key macro and micro economics factors which impact on the current UK housing market

3233 words - 13 pages An analysis of the key macro and micro economics factors which impact on the current UK housing marketIntroductionThis paper explores the current situation in the UK housing market. Fundamentally, the paper argues that the current situation in the housing market is a legacy of the way in which the housing market developed over the early 2000s into the 2007 and 2008 financial crisis. As the fall out from this crisis has taken two or three years

Housing Industry

6297 words - 25 pages current correction will depend on the course of employment growth and interest rates, to include the speed with which builders work on the new homes.Trends on the Impact of new companies entering the marketThe new companies entering the housing market will not have shown too much of an impact in the market. New investors are still purchasing foreclosed homes and fixing the homes to resale for a profit. The United States is going global in the

Affordable Housing Crisis

1177 words - 5 pages housing assistance due to the overall cost burdens exceeding 50 percent of their total gross income, overcrowding with the number of people living inside the home far exceeding its structural capacity, and lack of basic utilities, such as running water and electricity. Statistically, one out of seven families live in severe physical deficient housing. In fact, the housing and stock market revealed in July of 2009 that the Great Recession further

Homebuying 101: An Affordable Challenge

2058 words - 8 pages . Upkeep costs are one of the biggest obstacles for families after they buy a home. Affordable housing doesn’t always equal affordable upkeep costs. From replacing a furnace to fixing a leaky roof, several hundred dollars a year can be spent on home maintenance. For families who are already stretching their budget to make mortgage payments, any extra cost in upkeep can be detrimental. Most first-time homebuyers are typically apartment tenants for

Success of Singapore´s Public Housing Program and its Evolution

2952 words - 12 pages housing, except allotment and fixing the sell/ rental prices of the housing units, which are controlled by Ministry of National Development. The allocation of house ensures uniform mix of different race and ethnicities, so as to avoid congregation and communal enclaves. The intent was to promote social inclusion and harmonious ethnic relations, in a distinct way as compared to French secularism and British multi-cultural model. In the initial

Chicago’s Public Housing

1149 words - 5 pages - income developments they would only improve their circumstances. Chicago recognized the problems of the old housing plans and what problems later occurred because of it and is not on its way to fixing those issues with a secure, in-place plan. 1. What can be done in an effort to make low-income neighborhoods more affluent? 2. Why are neighborhoods still racially segregated? 3. What factors keep African Americans from moving into more

Similar Essays

The Uk Housing Market Essay

1422 words - 6 pages and Lam, 2001)3.Factors determining the Supply of Houses•Own priceThe price of houses is on its own a factor that affects the supply. If the current price is low, building companies are not motivated to build new houses, because they cannot make profits, therefore the supply is low. If the current prices in the housing market are high, companies build more houses in order to make more profits, leading supply to higher levels.•Input

Housing Market In The Uk Essay

3222 words - 13 pages I Housing market in the UKIntroduction:The housing market in the UK is under a lot of pressure because of the fact that the UK economy is under inflation and constantly increasing interest rates on the mortgage. The major factors influencing are inflation, interest rates and the income of the people. Though there are other factors that affect the housing market in the UK they are not as effective as the inflation and the interest rates. The

Finacialization And The Housing Market Essay

715 words - 3 pages Q.3 Financialization is a complex process that labels global finance as the dominant force that drives all economic and political bearings. In order to understand this concept and the process of how financialization works, this essay will evaluate and assess how the collapse of the housing market led to the fiancial crisis in 2008. According to Economic Geography a contemporary introduction, financialization “is when all sorts of things are

The Housing Market As An Economic Indicator

2259 words - 9 pages is an increase in home construction it can likely indicate that there is an increase in money available in the economy. The intent of this discussion is to look at the housing market and determine how it calculates into the economy, review the history, determine the current climate of the market, identify a long and short term goal for the market, and predict the next quarter of activity.If there is consistent growth in housing starts and