I notice that a lot of American politics is about ending major crisis at home and worldwide. Unfortunately the politicians seem to go off course or side tracked on their particular platform or their states agenda. A major dilemma that needs to be addressed in American politics is the current foreclosure rate in the housing market. The issue needs to be addressed because our entire financial stability seems to be balanced on the housing market. When the housing market crashed subsequently the stock market crashed soon after it. As a result of both the real-estate and the stock market crash the banks opted out to tighten up their belts by increasing the criteria to apply for credit and loans. For most Americans who have or had middle class to poor income status it is almost if not impossible to apply for and receive credit now from a reputable bank institution. The foreclosure rate is exceptionally important to me because my family and I were considering buying a home in a year and we almost considered purchasing a house on the flex or adjustable rate. The thought of the possibilities of losing a house would devastate us because we have a young child and my husband and I just started our lives together. My theory on how to improve the housing market is if our government and the major business companies actually work together the housing market will rebound in a couple of years.
The first issue I will like to address is how severe the foreclosure rate situation really is to moderate pay everyday Americans if not all Americans. The housing market has plunged the economy to times worst than the great depression. No one has really pinpointed who is responsible for the housing market crash or the market correction but I’m sure there were indicators of an incident to occur about five or six years ago. The definition of market correction in simple terminology is a bubble burst like the dot-com bubble burst in the mid-1990s. The definition from Wikipedia states “a housing bubble is characterized by rapid increases in the valuations of real property such as housing until unsustainable levels are reached relative to incomes, price-to-rent ratios, and other economic indicators of affordability.”
The market correction also affects major markets including (but not limited to) the retail markets. For the last five years the sales projection for all areas of the retail market has drastically declined and still no one has been able to make their quotas despite the numerous stimulus attempts from the government. The housing market correction further the pain on the working class American because the retail companies has started to pressure their employees to make impossible sales to keep the companies afloat. These employees are the same working class Americans who experiencing the money crunch and are barely able to pay their bills and/or invoices of past due on their homes. Unfortunately after months of not meeting sales projections retail companies had to...