Solving The Foreclosure Crisis

1291 WordsJul 12, 20186 Pages
On its surface, the current foreclosure crisis appears to have erupted from a volatile mix of debt, deregulation, risk, and over-leveraging within the economy. This; however, is a merely symptomatic approach to the recession, and does not address its underlying causes. In order to truly solve the crisis of foreclosures, one must address the systemic deficiencies which allowed the crisis to originally form. In the housing sector, the foreclosure crisis can be viewed as the bursting of the housing bubble. Indeed, the economy as a whole around the turn of the millennium can be characterized by its bubbles, and any solution to the housing bubble must necessarily take into account the complex web of interconnections between each and every…show more content…
In this way, an incentive is provided for cleaner, sustainable development, which has been hindered to the current day by its economic infeasibility. When taking a long term approach, however, one can see that any further entrenchment of the current fossil fuel status quo is ultimately infeasible due to its unsustainability. With true economic incentives in place for the development of green energy, new development in the future will take on a different character. A host of new industries will manifest themselves, moving the economy away from the old modes of production into an engine ready to take the United States through the 21st century. With the development of new jobs and reliable long term sources of income for the population will come the true economic growth and security needed to save people's homes. The United States' stature on the world stage has long been derived from its avant-garde status as a technological innovator --all GDP growth is born of technology; GDP is simply the adaptation of technology to marketplace. The fiscal mirages of the past decade are a product of the lack of incentives in place for fostering real, production based growth. Adopting a Graduated Energy Standard for the dollar not only provides an incentive for increasing economic output, but also pushes that new output in a forward-thinking direction. Because the foreclosures in the housing market are a direct symptom

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