Low And Middle Income Homeowners Case Study

The Independent introduces this article with a harrowing statement, disclosing that certain insurance policies in Louisiana may not cover the damages caused by Hurricane Katrina. The article reveals that "more than half of the properties in the city are understood to be insured only for hurricane damage, with insurers insisting that it was a flood that forced the evacuation of the city". This quote is not making any negative implications about the insurers, the author is attempting to clarify . There is no blatantly evident form of bias in this article. Any omission of facts is understandable, due to the fact that the chosen news source is not based in the United States. Some facts may be omitted due to the fact that the Independent media source is known for being centrist and they do not want to insert too much bias into the articles. The authors of this article, Jason Nisse and Tim Webb, provide the reader with well-rounded, unbiased information. There is no specific diction used to target any certain person, political group, or idea, which can be applied as tactic to influence a reader’s opinion on a topic.

Who pays for all these damages? People who live in hurricane prone areas obviously have insurance to fall back on when these disasters strike. It turns out that insurance companies also have insurance for instances like this. When insurance companies get stuck paying out large sums of money to a lot of people, they occasionally need a little help and

Too many Americans have fallen victim to the crisis that has become the norm for our citizens these days. Lenders no longer want to work with individuals who have gone through the foreclosure process and for many it is not only their homes they lose. Some have lost their jobs and/or families, others fall into a deep depression and worst of all some have taken their own lives.

In previous years homeownership is was what people in the United States showed pride in, up until recent years after the fall in the market economy. The current homeownership in the United States have declined significantly since the years have passed and is now the lowest it has been in decades. Even though the housing market has been improving over the years in the United States, and the increasing homeownership rate is a worthwhile policy goal for America, home ownership still continue to decline.

America is seen as the land of opportunity in that there are endless possibilities for an individual. In this land of opportunity, Americans strive to obtain the ideal known as the American dream. The American Dream is seen as the accomplishment of an ambition achieved while challenged by adversity.1 Americans often associate this success with the ownership of a home. The home is not simply a place of basic protection; there is a much deeper connection to the individual. Ownership of a home grants freedom and security that establishes a sense permanency for the individual. In contrast, renting a living space possesses a semblance of instability and dependence.2 The desire to improve ones’ position in life inspires one to

The current financial crisis, which had its roots from subprime mortgage crisis, began to increase dramatically in September of 2008. There have been significant economic disorders in United States alone. Major banks and financial organizations around the world are going bankrupt and writing down billion dollars. Housing markets are falling not just in United States but all around the world. This crisis is truly global and it is spreading like fire. Because of these economic crises, the US Congress came up with a $700 billion bailout plan to buy troubled assets from financial institutions who are struggling financially. Nevertheless, another bailout was proposed and it's the homeowner bailout. It is known that the foreclosure

Hey Danille, you have some good points here. However, I strongly disagree with you on the topic of the Affordable Care Act. In order for there to be money to insure all these uninsured patients, we will require a higher tax to be placed on the rest of society. While there might be more coverage options with the act, these options will complicate and confuse patients who are shopping around for coverage. Likewise, insurance companies must now cover sick patients which would increase the cost of everyone’s insurance. Is this really justice as we have discussed in class? Everyone should be given what they deserve, but is it fair to take away from others? I do believe that we should allocate resources to the people who need them the most (Haddad).

Will be terminating my lease, due to sewage back up in my unit. Bugs are everywhere and there are feces all over the walls and floor due to my toilet being detached from the floor. According to section 25 of the lease agreement it states “if we believe that fire or catastrophic damage is substantial, or that performance of needed repairs poses a danger to you, we may terminate this lease contract within a reasonable time by giving you written notice. If the lease contract is so terminated, we’ll refund prorated rent and all deposits, less lawful deductions”. Spanish Cove Town Homes, has refused to put my two young children, and myself into a new unit. I asked if we would be able to move to another unit, due to the toxic

Europe and elsewhere to the United States, and from the east to the west within the

There is an estimate of $50 billion in damages according to David Abramson in Hurricane Sandy: Lessons Learned, Again (Abramson, 1). In the effort to restore some that was destroyed, government agencies were set out to help. “As of July 2013 FEMA and the Small Business Administration (SBA) had helped more then 270,000 individuals or households and 3,900 businesses to get back on their feet through $3.8 billion in SBA recovery loans and FEMA individual assistance.” (US Department of Housing and Urban Development) The repercussion of this storm could’ve been prevented with better preparation behaviors. In an article from The Nations Health, Natalie McGill talks about those living in public housing and shelters during the storm. She describes how residents in shelters went without main necessities such as electricity and food for weeks after the storm (McGill, 2014). In another article Nancy Solomon describes a family from Long Island whose bay house was completely destroyed by Sandy yet she was gratified to see that process was being made. (Solomon, 2016) So although not all affected by the storm feel abandoned by the efforts of the government it is a pressing issue for a majority that

Since the passage of the 1968 Fair Housing Act , there have been legal tools and policies that combat segregation in housing, overall, promoting more diverse cities. While the Fair Housing Act have been successful in diversifying formerly all white cities. A new problem is emerging for the people in the integrated neighborhoods: the return of the great whites. Soon there will be no home for these people. The mission district of San Francisco , soon will lose all its original dwellers to the high demands of the Bay Area. A neighborhood historically home to Central and South American immigrants are being overtaken by the new , improved population . As you stroll down the once taquerias, bakeries, bars and auto mechanic shops lined streets,

Real estate market of Florida is one of the largest real estate markets in the United States. It’s because of the huge demand that there are plenty of homes for sale by owner available in the State. A large number of populations migrate to Florida for studies, jobs and other reasons. This population includes homeless, disabled and lower income groups too. The disabled housing in Florida provides an extensive range of housing from apartment for rent to town home.

In the city of San Jose, California, the housing supply has shriveled due to overwhelming influx of new residents and prolonged construction of housing developments. With the lacking supply of homes and more affluent residents moving to San Jose, landlords and developers of for-sale properties have been inclined to raise the costs of housing. These times have caused families and individuals into circumstances such as to relocate to more affordable areas outside of San Jose, such as Tracy and Hollister, creating inconveniences with a longer commute or even worse, homelessness. The City of San Jose had identified the housing crisis and responded with an ordinance known as the inclusionary housing policy which requires property developers, particularly

Today millennials are seemingly unaware of the benefits of homeownership. I know this because of the lack of effort given by most of this group to do what it takes to become a homeowner. I currently work a supervisor at a debt collection agency here in Anchorage, AK. I see more and more individuals who seem to not car about bills that are in collections. A lot of younger consumers are seeming to hang up, not care or get overwhelmed by so many bills, especially medical. It’s very unfortunate when you know someone care about their bills and credit and just happens to get in binds. However, I find this is not the case with younger consumers. Paying bills are just not a priority it seems. I was born March 27,1989. For me when I was in high

Nearly half of homeowners are couple-families. The remaining 58% dedicated to single-family homeowners also includes homeowners who are living with roommates (Statcan). Data shows that multifamily homes have less of a chance to default on mortgage loans than do single family homes (refer to figure 3). It follows that with such a large proportion of people living in groups or in families on the reserve, there is less chance for default on the home loans.