Essay about How To Fix the Housing Industry

Many professionals recognize the benefits of assistive animals for people with physical disabilities. This includes seeing-eye dogs that are trained to alert owners to environmental hazards. Some policies may be hard to change, but are required if needed. One well known policy

Within each service area there is a host of many options available. Specifically, under the Public and Indian Housing is the Housing Choice Voucher Program, commonly referred to as Section 8 Housing. Section 8 is the federal government's major program for access to very low-income families, the elderly, and the disabled to afford suitable, safe, and sanitary housing in the private market. Housing choice vouchers are administered by the local public housing agencies (PHAs). The

It is often easy to castigate large cities or third world countries as failures in the field of affordable housing, yet the crisis, like an invisible cancer, manifests itself in many forms, plaguing both urban and suburban areas. Reformers have wrestled passionately with the issue for centuries, revealing the severity of the situation in an attempt for change, while politicians have only responded with band aid solutions. Unfortunately, the housing crisis easily fades from our memory, replaced by visions of homeless vets, or starving children. Metropolis magazine explains that “…though billions of dollars are spent each year on housing and development programs worldwide, ? At least 1 billion people

The housing crisis of the late 2000s rocked the economy and changed the landscape of the real estate business for years to come. Decades of people purchasing houses unfordable houses and properties with lenient loans policies led to a collective housing bubble. When the banking system faltered and the economy wilted, interest rates were raised, mortgages increased, and people lost their jobs amidst the chaos. This all culminated in tens of thousands of American losing their houses to foreclosures and short sales, as they could no longer afford the mortgage payments on their homes. The United States entered a recession and homeownership no longer appeared to be a feasible goal as many questioned whether the country could continue to support a middle-class. Former home owners became renters and in some cases homeless as the American Dream was delayed with no foreseeable return. While the future of the economy looked bleak, conditions gradually improved. American citizens regained their jobs, the United States government bailed out the banking industry, and regulations were put in place to deter such events as the mortgage crash from ever taking place again. The path to homeowner ship has been forever altered, as loans in general are now more difficult to acquire and can be accompanied by a substantial down payment.

Article 25 of the Universal Declaration of Human Rights asserts that housing is a fundamental component to a decent standard of living, yet few city governments--even in the most developed economies--have proven themselves capable of ensuring such a basic right to their constituents (United Nations, General Assembly). Ranked 49th among the 50 U.S. states for its number of housing units per capita, California has notoriously struggled with chronic shortages in its urban housing market. With 118,142 homeless people recorded in 2016, California holds almost 22% of the nation’s homeless population (Fact Sheet: Homelessness in California 1).

The American dream is all about stability. Owning a home, having a well-paying job, a yearly vacation and children are stages of the American dream. Above all of them, owning a house is the most important because that means one is secure and stable. My auntie, Evelyn, had reached the biggest stage of the American dream: owning a house. After hearing the good news my family and I planned to visit her and see the new house, but it was too late before we got see her new house: the value of her house dramatically decrease and my auntie was forsaken. So, she decided to let the bank take her house instead of making the house payments. Just like my auntie, Evelyn, many American families were affected by the financial crisis in 2007-2008. Although the financial crisis was a horrific experience, there are some positive aspects.

Affordable housing in the United States describes sheltering units with well-adjusted housing costs for those living on an average, median income. The phrase usually implies to applied rental or purchaser housing within the financial means of lower-income ranges specific to the demographics of any given area. However, affordable housing does not include those living in social housing owned by government and non-profit organizations. More specifically, the targeted range for housing affordability sets below 30 percent of a household's annual income, including all applicable taxes, utility costs and home owners insurance rates. If the mean income per household breaches the 30 percent mark, then the agreed status becomes labeled as

In 2007, the U.S. fell into a deep financial recession. One of the main causes of this was the bursting of the housing bubble, which lead to a housing crisis. What is a housing bubble? A housing bubble is defined as “a temporary condition caused by unjustified speculation in the housing market that leads to a rapid increase in real estate prices” (businessdictionary.com 2014). When the bubble bursts, the result is a quick decline in home prices (businessdictionary.com 2014).

For the last several years, the one issue that has been bringing the United States into a state of trouble that it has not been seen since the great depression has been the monstrous Foreclosure problem. Thousands of people have lost their houses. Thousands of people have faced the dangers of debt and chaos. Thousands of people lives have been ruined because of the mistakes that Americans have done in this nation. In order to solve the problem, one must take a look at how it started and how this depression began. Around eight-nine years ago, the market in housing caused many people to chase after it. This caused a mistake of creating a domino affect that has hurt banks from lending out the high amount of money to people and finding out

This way the government could stabilize the market and only the houses at the top would be left unoccupied. These top tier homes could be offered for sale or for rent if a sale is not possible. A new loan could be made for the trade down, but the members of the family would be required to take a class on how to save and create financial goals.

More middle class and minority families than ever are now underwater in their mortgages, and have zero to negative wealth after the Great Recession that followed the 2000 housing boom (Potts 7). Even those who kept their homes saw their values drop due to the declined neighborhood worth. My childhood home’s peak value was over $200,000, but my parents listed it on the market with the hope of selling for just $175,000 when they wanted to move to lower their mortgage. There were never any foreclosures in our neighborhood, the house is in one of the best school systems in the state, and it had a great location, yet the value dropped more significantly than it had in twenty years. This was a situation many homeowners didn’t know was possible

Housing affordability is a perennial problem in Australia and has worsened significantly over the past three decades.

The United States economy has been in trouble for the past couple of years. The foreclosure crisis is a condition that began due to the inability of homeowners to pay their mortgages. Foreclosure is a legal proceeding whereby a lender obtains a legal termination of a debtor’s right to redemption. The foreclosure rates have been increasing for a considerable period and certain steps have been put into place to solve the problem. While the government, financial institutions and the general public are highly aware of the crisis, the steps taken to combat the problem are still not sufficient as the foreclosure rates are still increasing.

Those who rent from private landlords do not only tend to, on average, pay almost double the rent of a person living within social housing but also are twice as likely to live in a residence the Government would class as a “non-decent home”, a residence in disrepair and one that does not meet health and safety standards (Jonathan Owen, 2014). The undisputable growth of private renting sector is not limited to England but is also noticeable in Wales, Scotland and Northern Ireland. In wales the private rental sector represents 14% of total housing, the private rental sector in Scotland has doubled over the last ten years as more than three hundred thousand properties have been sold and in Northern Ireland private landlords own more properties than councils and housing associations combined according to national figures provided in 214 (Jonathan Owen, 2014).

The current real estate crisis that America finds itself in is one of the greatest challenges America has ever faced. America’s troubles are further compounded by increasing unemployment of American citizens and environmental problems like global warming. Solving any one of these problems would be a Herculean task, yet they must each be addressed in order to protect American families from disaster. However, it is possible to find a solution to the problems of the real estate crisis that can also be used to improve the problems of the unemployment and environmental destruction. The first part of the solution involves the United States government purchasing the homes that have been foreclosed and using them to offer temporary housing to