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Home crisis in the US

posted July 23, 2008 - 9:40am
Home crisis in the US

I have been talking to alot of people as of late that deals in the housing market in this country such as loan brokers and realestate agents. Alot of them have a positive outlook for the near future. I, on the other hand, after talking to many, see no improvement in the current housing crisis. Their are alot of people loosing their homes at a alarming rate. Most of these families will be forced into rental accomodations, and in most cases this will end up costing more in the long run than if they stayed in their homes. The US Government helps millions overseas, which is a good thing, but you would think they could come up with a solution to help the thousands of Americans keep their homes. In the long run, I think that would save the government alot of money needed for assistment programs many families will be foreced to use in these emergency situations. I just pray that the economey of the US will change and fast!!



Comments

afford?

do you really think most people in the united states cannot figure out what they can afford? Have you priced rent lately? Its the panicking banks that are doing the forclosing because they are all at risk. How many banks have gone under? And what about people who bought and then for some reason lost their job or their job was cut because of a bad economy? Its not always people who made stupid decisions.

people bought something they couldn't afford, it's not...

it is not the government's job to bail out those who did not make sound financial decisions. it doesn't matter that lending standards were relaxed because no one forced people to sign on the line for a mortgage they couldn't afford. there are plenty of rentals (and more becoming available every day) available. they need to take this time to get their finances in order and learn to properly manage money.

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