Essay about How To Fix the Housing Industry

Decent Essays
The costs in homes are consistently going up and many families across the U.S. cannot afford them. They can’t pay off the mortgages and end up going bankrupt because they cannot pay for the house let alone a car, utilities or any other costs that Americans face today. Let’s take a step back from the situation I believe in order for people to be able to payoff their homes without going under in debt is that they manage their money in a better way. People that aren’t able to pay for their homes are people who spend their money on other things that aren’t as important. Some things would include they spend around three hundred dollars in coffee every month. Now what if people saved that money and put it into bills that they really needed to…show more content…
Well now the families realize that a few months through the payments neither the husband nor the wife’s salary can afford the home. In turn they end up not being able to meet the payments that are due on the home. This is when the bank gets really angry and reacts by saying they will foreclose the home because the two couple aren’t paying their mortgage fines each month. The bank finally forecloses the home and the couples are living in a crappy apartment for most of their lives because they wanted the house instead of taking a step back and asking the question “do we really need this house?”
Now this is what has been happening to American families who have been out looking for their first house only realizing they bit off more than they could chew. This has caused the housing market to go down the toilet, but I believe I might have a solution. If people were to go out and look for a house that fit how they need to live instead of how they want to live then we wouldn’t be in this huge mess in the first place. I believe that in order to stop people from spending their money on things that they don’t need into things that are necessary for them to live on will solve this problem entirely.
People are so influenced by what the media tells them what they want and tells them what they need that they begin to believe what the media is saying instead of listening to logic and reason. What needs to happen is that
Get Access