The foreclosure crisis that has swept the nation is nothing new. In broad terms this has happened before in our country, and in other countries years passed. However, that does not mean that this is not fixable. The problem cannot be fixed by simply passing a new government policy, or hiring a watchdog to look over all mortgage applications. No, the problem lies with each individual and their misunderstanding of financial responsibility. As such, measures need to be put in place so that every citizen of the United States is given the opportunity to become a financially responsible and productive member of society. I feel the need to preface this essay with a warning. I’m not ignorant. I know this is not the plan that perhaps the designers of this scholarship were looking for and I would be very surprised if this ever made it into the final round. It is not flashy, and it will not fix the problem overnight – nothing will. If you’re looking for some kind of band aid fix, or a cure-all miracle then I sorry for wasting your time please feel free to disregard this paper, but if you’ll looking for real results that can be measured overtime then I suggest you read this essay. Let us understand why it is that people purchased houses that they couldn’t afford. The answer can be traced back hundreds of years. The bible warns us not to “covet thy neighbor’s wife”. Could it not just as easily have said, “Covet thy neighbor’s house”? Using modern day vernacular we simple say, “We are keeping up with the Jones”. Yet, no one ever responds with, “but the Mr. Jones is a 55 year-old CEO of a fortune 500 company and you just got your bachelors degree last winter.” We all have an insatiable want to have more, but that’s the key – it’... ... middle of paper ... ...quences of their actions. Only after passing the test will the lenders (mortgage, car, credit card, etc) be allowed to issue a loan to the applicants. Let me end with yet another story. I used to mow the lawn growing up a lot. As is always the case with landscaping, we had a weed issue. One Saturday I awoke to find a huge weed sticking up right in the middle of the lawn. “Lucky me, I can just run it over with the lawn mower”, I thought. However, a few weeks later, it was back – and bigger. So I ran it over again. A few weeks later, back again. My father at this time was rather upset. He explained to me that you cannot just cut off the top of a weed. You have to pull it out by its roots. As is the case with financial irresponsibility in our country. It is a weed that has been mowed over for years. It is time to grab it by the roots, and destroy it.
Keli Goff declares in her article, The American Dream is Dead and Good Riddance, that the original American Dream is no longer on the minds of most Americans. She insists that most Americans no longer pursue the ideology of a nice house, educated children, and decent car that once fueled the ambitions of generations that have come and gone. A large number of people live alone in the U.S today with no children. With that being said, it’s statistically spoken that the dream is dying even though most of those loners want to direct their dream in the direction of a partner and children. Goff proceeds to ridicule the home ownership portion of the dream by pointing to a mortgage “meltdown” that came from the pursuit of home ownership by those who
In the 1920s, a home was considered having wealth. Imagine all of the stress we will lose if we did not have to worry about things
Title VII in no way prohibits testing or diploma requirements for hiring or promotions. Indeed, when they are properly developed and used, tests and other employment criteria can be effective, efficient means for employers to evaluate applicants. But as the Court explained in Griggs, “What Congress has commanded is that any tests used must measure the person for the job and not the person in the abstract.”
Another reason people become poor is that they spend their earnings on their "wants" and not on the necessities. That then leads to the realization that they cannot pay rent/mortgage and are evicted. But for the reason to spend their money the way they want was influenced towards bragging rights and/or the "want" to feel a part of the wealthier. Cottom observed that, "Errol Louis and his belief is held by many people, including African Americans, poor people, and formerly poor people that spending money excessively is not logical." Furthermore, it could be an addiction problem for some
My mother has worked for the City of Phoenix for over twenty-five years, my father was laid-off but he started his own business and then got into teaching/coaching, and my sister, even with all the obstacles she faced, will soon earn her degree. Without the Coolidge scholarship, in the spirit of President Coolidge, I will still work to achieve my goals, but the Coolidge scholarship could make it easier for me to achieve excellence rather than mediocrity. To explain further, money is what forces a lot of people to take longer in college and to take on the whole “C’s get Degrees” attitude. Considering that I want to be a doctor, how I succeed academically should be what’s important, not how I’m going to pay next semester’s tuition. My family works hard, but doesn’t earn the income necessary to cover a university’s expense. I got goals, and I’m sure millions of kids across America do too, but they don’t all want to be outstanding pediatricians and they don’t all cry over the uncertainty of not reaching their goals. With Coolidge Scholarship I could become a renowned pediatrician and for once in my life “how am I going to pay?” won’t be a question I’m asking
The Millionaire Next Door written by William Danko and Thomas J. Stanley illustrates the misconception of high luxury spenders in wealthy neighborhoods are considered wealthy. This clarifies that American’s who drive expensive cars, and live in lavish homes are not millionaires and financially independent. The authors show the typical millionaire are one that is frugal, and disciplined. Their cars are used, and their suits were purchased at a discount. As we read the book from cover to cover are misconceptions start to fade. The typical millionaire is very frugal in all endeavors and finds the best discounts possible. A budget is implemented daily, monthly, and annually for a typical millionaire. They live by the budget and are goal oriented. Living well below their means is crucial for a millionaire, and discovering ways to allocate time and money more efficiently. The typical millionaire next door is different than the majority of America presumes. Let’s first off mention what it is not. The typical millionaire is surprisingly not the individual with the lavish house worth a million dollars, owning multiple expensive cars, a boat, expensive clothes, and ultimately living lavishly. The individual is frugal and often looks for discounts for consumable goods. The book illustrates the typical millionaire in one simple word: frugal. It is shocking to believe that this is true, but it does make sense. To achieve financial independence is inherently more satisfying and important than accumulating wealth. According to the book the majority of these millionaires portray characteristics of being sacrificial, disciplined, persistent and frugal. In the book it states, “Being frugal is the cornerstone of wealth-building. Yet far too often th...
The last quarter twelve percent (12%) of American homes are in default of their loan, or in foreclosure. Add that to the previous four quarters and that is eight point seven (8.7) million homes in crisis. (Further on known as HIC's) The United States “Bail Out” helped major mortgage corporations, and their chief executive officers (CEO's), but not the families that are in, or were in these HIC's across America.
...ss is hard to qualify in a world where the acquisition of material goods masquerades for success. A home is a material object that exists within a concrete reality. It exists with its own qualities of a house built of materials that do change and degrade over time. The costs of homeownership are harder to dismiss when one becomes disillusioned with the effects of a lack of attention to those costs.
Having a house and having a home used to coincide. Families used to live in the same house for generations, but now the sentimental value of having a house has changed. As Quindlen puts it, “There was a time when where you lived often was where you worked and where you grew the food you ate and even where you were buried. When that era passed, where you lived at least was where your parents had lived and where you would live with your children when you became enfeebled” (Quindlen 215). However, over time even that changed. Now we have grown to live in a house and then move on like it was nothing. Sentimental value for a house has dwindled. Quindlen demonstrates that “suddenly, where you lived was where you lived for three years, until you could move on to something else and something else again” (Quindlen 215). However, for those without a house, they would give anything to have that sentimental feeling that used to come with having a house. But that’s just the problem; for most a house and a home no longer coincide. We can own a house but not have a home, or vice versa. After all, “Home is where the heart is. There’s no place like it” (Quindlen 214). People can have a home without having a house. A home simply means having a family,
This grant represents the attempt to reform and create opportunity for disadvantaged students. However, Roosevelt’s grant guarantees nothing except additional federal funding and more pressure to improve its test scores. I believe that Roosevelt will have problems improving their test scores without first creating incentives for its students to graduate and attempt to attend college. Fixing problematic schools like Roosevelt requires more than multi-million dollar grants. The government will require Roosevelt to improve standardized test scores and to keep students from dropping out.
Wolf, Patrick. "Lost Opportunities: lawmakers threaten D.C scholarships despite evidence of benefits." Unabridged version of article published in education next 9:4 (2009): 1-15.
Foreclosure in America has been a rising and prominent problem recently, and has destroyed many Americans hopes and dreams. Over 2.3 million homes were foreclosed in 2008, and an estimated four million homes will be foreclosed by the end of this year. Despite the efforts of many banks and lending companies, over half of homes will foreclose that have received their help. I believe that we have only started in the right direction in solving the foreclosure crisis. Giving money and lowering mortgage rates will help, but I believe we should find out why Americans are in this situation in the first place. We are being too stereotypical when we think the only reason someone is foreclosing is because of irresponsible payments or buying a home out of a person’s capabilities to pay for it. If we understand their situation, we will be better enabled to help and solve their crisis.
money to purchase large amounts of land and houses august enough for the property. This land ownership propelled some nouveaux
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.
[1] Goldratt, Eliyahu M. and Cox, Jeff (2004). The Goal: A Process of Ongoing Improvement. Retrieved from http:// ishare.edu.sina.com.cn