However, some of these companies were not so upstanding and as a result many unsuspecting homeowners were scammed out of thousands of dollars and just as many ended up in foreclosure. It became very clear early on that something was not right with many of the new home transactions involving a company called Rain Tree Homes, and so the Y-Rent scam slowly unfolded. Rain Tree Homes was a real estate construction company located in Mount Pocono, Pennsylvania. After September 11, 2001, Rain Tree Homes and Y-Rent began advertising heavily to the New York/New Jersey lower income market. Enticing advertisements claimed you could purchase “a new home in the beautiful Pocono Mountains for only $1,000 and $685 per month.
Tenements were the equivalent of coal mines; in early developments there were no safety standards, just the quickest way to make the most amount of money, with lack of sunlight and air ventilation. The epitome of poor management regarding the lack of attempt of turnabout in the nature of tenements by landlords were shown through model tenements; the care and up-keeping focused mainly in the facade of buildings rather than continual care within the walls of confinements. Mortality rates in the city rose to one-in-twenty-seven persons in 1855 due to the severe lacking living conditions and negligence of owners, landlords and agents. (p11, Riis) Any case of disease that arose within the walls of a tenement was a formula for disaster. Typically the disease-stricken tenants were a lost cause, and the source of plague throughout other blocks.
Most major cities are building properties when we do not have takers for the ones already built. The real estate market has crashed right before our eyes and has yet to return to a stable state. Although this is the best time to purchase a home due to low interest rates, great prices and deals, it’s still too uncertain in the job market to make that purchase. The solution to this problem is to sell them to the government. The government system is the only system that is doing business that is not for the sole purpose of making a profit, which puts them at a disadvantage.
(p. 6) Riis also thought that the "other half" justly punished the community because the community gave them no other choice. These poorer people did not have the same resources and education opportunity as most of the rest of the classes in America, which many tenemen... ... middle of paper ... ... that mold him into what he is. When property owners over price a small "room" for these people, is it the poor man's fault? The law and community had turned away from the lower class and let things get out of hand. "In this matter of profit the law ought to have its strongest ally in the landlord himself, though the reverse is the case.
To understand the reasoning behind Pruitt-Igoe’s failure one must first identify the circumstances under which Pruitt Igoe was made. To begin with, Pruitt-Igoe’s high rising and beautiful architecture was made in order to replace the slums which were an “eyesore which blinded downtown interests” (... ... middle of paper ... ...icans, such as in Blackjack, diminished any hope of African Americans prospering. Meanwhile, African Americans were treated like prisoners and left without jobs in the city. Unfortunately, this was not just occurring in St. Louis, but throughout the U.S by 1960 over half of all African American lived in largely poor segregated cities. Furthermore, they would pay more than whites for worse housing (Present Tense).
The numbers are staggering in either category, and despite enormous gaps in economic class, it would seem the crisis knows no demographic. Many Americans own homes worth less than their respective mortgages. In addition to this, it seems that many of the higher-growth regions across the country are having the biggest problems. The previous housing 'boom' is perhaps responsible for much of the current situation; but it was not an inevitable occurence. The American government, past and present, has made many a promise to clean up the housing market, presumably with the best of intentions.
However, many financial institutions recycled unmorally behaviors to their clients and investors for their own greed which led the house market spurt. As government leaders portrayed the promise for all Americans to have prosperity, home ownership became a reality for the most low- middle income people. Many low-income borrowers were attracted to the idea of becoming a first time homeowner. After the internet bubble burst in 2001, a lot of Americans felt that buying a house was a safer investment than invested in the stock market. Due to poor saving habits, low income homeowner was unable to pay the typical twenty percent down payments on a house.
During the mid-1800s, conditions in New York City were atrocious; immigrants lived in squalor in rundown tenements, and most if not all were in low paying jobs with no chance of improvement. New York did not have the infrastructure capable of handling its population, and the city was falling apart. In the 1850s, a group came into power that turned the city around. Under the leadership of William “Boss” Tweed, Tammany Hall, the branch of the Democratic Party in New York, revitalized the city. They funded the building of bridges, hospitals, and parks, and provided financial aid to immigrants, including helping them find jobs and avoid the draft.
28 million people is a quarter of America’s workforce. This means that a quarter of our workers cannot or can just barely afford to suppor... ... middle of paper ... ...hile passing a law linking minimum wage and inflation sounds nearly impossible, all of the other options that could also help minimum wage earners are equally impossible. The current minimum wage is not enough to live on and leaving it as it is will only force more of our fellow Americans out of their homes and into the streets. Increasing it to a living wage not only has no adverse effects on employment, but it is also the humane thing to do. Works Cited Conlin, Michelle, and Aaron Bernstein.
FROM THE JEWISH PERSPECTIVE When Jewish people arrived to the United States, they were escaping the severe oppression, poverty, and harsh violence that existed in Europe. Not all Jews lived a prosperous life as individuals, and even when they did their prosperous life was crippled by discrimination. This discrimination dates back as early as the Crusades in the Middle Ages (5th Century to 15th Century). Business restrictions placed on Jews forced Jewish families to live in conditions with no food and no shelter, although this was not their us... ... middle of paper ... ...ography of the People. New York: W.W. Norton & Company, 1992.