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Mortgage foreclosure crisis of 2008
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I wonder if as a family opens the door to their new home, a place where they have holiday dinners, celebrate birthday parties or just are able to say “Home”, understands the importance of their investment. One of the most important investments in a person’s life is purchasing a home. Whether it’s a first-time home buyer or a veteran, buying a home is a complex process. Figuring out how much you can afford, learning your rights, shopping for loans, these are a few steps in the home buying process that when learned correctly, can produce a successful homeowner. Learning how to take care of something as special as a home takes time and effort from all those who are present in the home. As the country deals with the economy and the war, the last thing America needs is more homeless people and the rise of the crime rate. Two ideas I have come up with to help solve the foreclosure crisis is to add a investment course to the high school curriculum across America and insurance companies creating an insurance package that consolidates home and auto insurance at an income base rate.
As a father and a college student I find that I continue to learn everyday. In high school I found out what I was good at and I learned what I needed to improve on to become successful and graduate to the next level. Learning to apply what we have learned gains knowledge, a great investment that molds future investments which creates a win-win situation all the time. Applying an investment course that offers real estate education to high school students across America will give students the knowledge early in their lives to be successful in the home buying process. Students will access the course through computer software. With an instructor on-site an...
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...sions. It’s a new day and laws are needed to be updated to the now times so that the youth of today can experience responsibility without having a baby or committing a crime for attention. Applying a consolidation insurance plan to home and auto insurance can lighten the burden of the insured. With this type of plan the insured will reduce premiums 15%, allowing the insured to make one convenient payment each month. Insured will have just one renewal date and apply one single deductible in the event of a claim. As a parent and a student I feel these solutions will be a great impact for the economy. With hard work and patience, these solutions to the foreclosure crisis will not only encourage students and their families to work together, but it will also create businesses all over America, and consolidate home and auto insurance policies at affordable rates.
As the economy evolves and the job market continues to get more competitive, it’s becoming harder to have a successful career without some kind of college degree. This creates a belief in many young students that college actually is a commodity, something they must have in order to have a good life. There’s many different factors that influence this mindset, high schools must push the importance of the student’s willingness and drive to further their education. College isn’t just a gateway to jobs, but it is an opportunity to increase knowledge and stretch and challenge the student which in return makes them a more rounded adult and provides them with skills they might lack prior to
...someone will be successful as an adult, college degree or not. Not to mention the obstacles that may get in our way through the course of years in us getting to the point of adulthood or the balls that on must juggle in their adult life. The teaching and learning that helps individuals to succeed, perhaps needs to come from parents and role models, as we are learning values, which begins to happen before we ever enter our years of formal education.
The trend for home ownership is down. Millennials, those born between 1980 and the early 2000s, are waiting longer before buying their first home. (Rent Jungle, 2015) For them, purchasing a home represents a much higher cost relative to income than it did in years past. To illustrate this point, in the 1970s, the cost of a house represented about 1.7 percent of annual income; today that figure is at almost 3 percent. (Rent Jungle, 2016) Single-family home prices are continuing to trend upward (Hanley Wood Data Studio, 2016), making home ownership an unaffordable option for
Clearly, all students should learn the basic things that every adult should know throughout their life. A majority of students have to go through real world situations on their own, and they though...
In my community, El Sereno, college is viewed as an option as opposed to it being the next step in life. Most people in my area either begin working or start a family after they graduate from high school. Not always by choice, but in some cases by circumstance. Students in my neighborhood either lack the knowledge, financial support, guidance or even legal status that would otherwise drive them to apply or even go to college. About eighty-percent of students graduated from my high school, but only about twenty-percent ended up attending a four-year university (NINCHE). One of the biggest reasons for student’s low college entrance rate has to deal with their family's socioeconomic
And I want to buy a house someday… ’”(“Cashing In” 2). Whether a student wants to attend a community college,
For many people, housing is more than a shelter; additionally it provides for and helps families meet many of their needs for safety and security, social interaction and self-esteem (Merrill, Crull, Tremblay, Tyler, & Carswell, 2006; Schwartz, 2006) cited by Andrea Lynn Bentzinger, (2009). Although it is known that homeownership is sought after by most families, and thought to have more positive outcomes for the household and the community, questions remain regarding the actual benefits of becoming a homeowner, especially for low-income families Shlay, (2006) cited by Andrea Lynn Bentzinger,
Presently, in Michigan alone, foreclosure has claimed roughly 9700 homes and the list grows as we speak (mi.foreclosure.com). Sadly even my home has failed to avoid this list of potential foreclosures. However, I don’t see myself as a victim nor do I see myself as defeated. On the contrary, I see myself as a youth tasked with ushering forth a difference. I, like most of my generation, has seen the best and the worst of the American economy. I grew up with $1.45 gas. I was raised with the middle class mentality. Nonetheless, presently I live in a state where both of these aspects have grown nonexistent. Thus without doubt or question, because I’ve lived and seen both sides of the metaphorical fence which divides our American economy and society, I believe in me and in the rest of my generation lies the variable which can finally solve the financial equation which subjects the American way of life.
Mothers talk themselves out of gaining an education because they can find other ways to spend the money; one child needs braces, another has outgrown their shoes, and they all want to participate in extracurricular activities! Many mothers hesitate because up top of the needs of their children, there are countless stories of college graduates having astronomically high student loan debts, many who are unable to work in their chosen fields or find a job at all. The “For the Strength of Youth” pamphlet shows that these arguments do not stack up against the return on the investment, “Education is an investment that brings great rewards and will open doors of opportunity that may otherwise be closed to you.” (The Church of Jesus Christ of Latter-day Saints) Knowledge never depreciates in value. It is impossible to place a price on the influence that an educated mother provides her children. The peace of mind from the preparation provided by education is incalculable in monetary terms. The benefit of investing in education is
Thousands of hardworking American families are being dragged down the path to foreclosure with no escape in sight. Despite hard work, they struggle to make the mortgage payments, lose hope, lose pride in homeownership, and eventually abandon payments altogether. We need to revive hope and rebuild the concept of pride in owning one’s own home by helping them make the payments through this plan. My solution does not require mere government giveaways, but rather allows for the recapture of government investments. One home at a time, we can successfully reconstruct the American Dream of home-ownership and end the foreclosure crisis.
I grew in this class with the help of my teacher Mr. Fulk and his teachings. Growing to become a better consumer with the help of my teachers teachings and looking into something like the stock market game. I have learned much because it helped with me taking notes in class and referring back to them etc. For instance supply and demand that the demand is the consumers and supply is the producers.
When young adults complete high school they’re encouraged to enroll in a higher education program. With the constant talks of soaring tuition costs, in addition to the massive student loan debt, taking this step can be worrisome. Reyna Gobel, a journalist on financing college education and repaying student debt, states. “It’s easy to stop believing that a college education is worth it when the nation has over a trillion dollars in debt, but college graduates still earn more over a lifetime than those without a degree. Plus, they’re more employable.” More than three-quarters of all college graduates agree that higher education is indeed still worth the cost. Additional education in a field you’re passionate towards
The housing boom created an illusion of ever increasing home equity. It was difficult to walk away from potential homes that seemed good on the surface, but in reality were either money pits or less than desirable. For the uninitiated, making sense out of the chaos when things start to go wrong is an emotional process that lends itself to the gradual disposal of the rose-colored glasses. The upkeep and maintenance that homeownership requires of the inexperienced homeowner, particularly an older home, is comparable to taking on a new entry-level job with diminishing returns. There is a prevailing chaos amid the turmoil of a broken water pipe during a holiday weekend.
Buying and owning your home is part of the American dream. Although the dream itself has since changed, the home still remains the main focal point. Today owning a home doesn’t necessarily mean a house. People now buy duplexes, cooperative apartments, and condominiums. For some families it could take up to a couple of generations before it’s able to have the capabilities of buying a home. To many people it means a certain achievement that only comes after years of hard work. It is a life altering decision and one of the most important someone can make in their lifetime. The reasons behind the actual purchase could vary. Before anything is done, people must understand that it’s an extraneous process and it is a long term project.
Real estate has sustained me for over 15 years, but my desire does not stop there. I have sold HUD homes, land only, residential properties, income properties, and done some commercial leasing. Now, I want simply to continue my real estate education I would like to learn more about the commercial side of real estate, and also asset management, I want more financial knowledge when it comes to real estate transactions . I want to learn about the new laws that our licensing is based upon. There is nothing out there that will allow me to gain this much knowledge except for a masters degree in real estate and as this is my passion, it seems the only path for me.