Solving the Foreclosure Crisis Essay example

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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…show more content…
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 scale back their losses by either making salary cuts or reducing the number of employees. As of the most recent news report I have seen the United States unemployment rate has increased to 10.0 percent.
Also the market correction has affected the quality of life for all Americans. I seen a recent study that says depression is on the rise amongst all

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