Affordable Housing Essay

.............................................................................................. 3 3. Chinese Housing Bubble 2005-2011...................................................................................... 3 4. Development of Ghost Cities ................................................................................................. 5 5. Current Situation of the Housing Market ............................................................................... 8 6. Conclusion

Within years, multiple regulations, laws, plans, and initiatives were created in order to resolve the problem of disrepair in public housing. Next Generation Plan is the next big thing which is supposed to decrease the number of unresolved disrepair cases dramatically. There is also multiple regulations that were created to combat this issue: 1. Real-Time Dispatching & myNYCHA App 2. One Call 3. Real-Time Repairs 4. Optimal Property Management Operating Model (OPMOM) Real-Time Dispatching & myNYCHA

which was not entirely delivered. (WWW.businessinsider.com) After the bubble had burst, the American and global economy appeared like it would endure a period of stability under the speculation of many senior economist, following 2001 however, the housing market and the American dream became the ‘New thing’ with a backdrop of securitization bonds and CDO’s. (USA Journal) The federal reserve and Robert Greenspan contributed to the craze, a response to the prior dot.com bust. The central bank kept

prices and supply booms similar to the U.S. Leverage, known as gearing in the U.K. was being built up in many countries and a large number of account deficits were rising. By late 2005, homes sales reached a peak. In 2006, construction spending and housing prices rose. Due to the amount of homes being sold, financial products that were based on mortgages were sold around the world and made way for the global financial crisis. Any crisis in the U.S. will have a global effect because their financial assets

Rojina Shrestha Professor Patricia Ard Critical Reading and Writing 102 9 November 2016 The American Dream and the Mortgage Nightmare Every country’s economy is greatly impacted by the beliefs and the attitudes of its citizens; conversely, the action of the people is affected by the country’s economy. In other words, economy of a nation and character of the citizens are correlated. For instance, in the United States, the “American Dream” to own a home had a huge influence on the mortgage crisis

rate significantly between July 2004 and July 2006. This added to an increase in number of years to the adjustable-rate mortgage rates and made it more expensive for homeowners. As a result, this may have also contributed to the deflating of the housing bubble. Gross Domestic Product declined at an in the last two years in the United States. When GDP collapses, economic growth will also plunge. This is as a result of fewer goods being manufactured and therefore the rate of exports will reduce

Impact of Housing Market Crash “The Impact of housing Market Crash on Global Economy” The housing market in the United States became a nightmare for many people who had taken out loans found and they were not able to pay their mortgage repayments. When the value of homes decreased, the borrowers realized themselves with negative capital. The negative movement of housing sector did effect the United States economy. Individual house owners and investors could not react to the

boomerang buyers to enter into the housing market again. Typically, rebound buyers (foreclosure, short sale) have had to wait an average of three to seven years after their foreclosure or short sale is completed to qualify through a mortgage lender to buy another primary home. Currently, some of those restrictions are more relaxed and many of these buyers have only had to wait three years and even as little as two years if they can find a loan backed by the Federal Housing Administration. These FHA loan

Freddie Mac is in the home mortgage business. It is their jobs to help low income families find affordable housing. Freddie Mac has been in business since 1970. They were created in order to get more American families in to their own homes. Their mission statement says, “Our statutory mission is to provide liquidity, stability and affordability to the U.S. housing market” (FreddieMac.com, 2014). Despite this honorable mission statement, Freddie Mac was involved in a case of accounting fraud that

and the Foster Care Review Board Program. They also deal with cases involving abused and neglected children, and have the authority to take children away from their parents if either of these two are proven. For many children, the lack of adequate housing is a major factor in their entry into the public child welfare system.      Social work has a strong relationship with this problem of homeless children and the Child Welfare Services. CWS directly deals with homeless children, helping them stay