Foreclosure Crisis - Proposed Plan to Stabilize and Elevate the Housing Economy

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Thomas Jefferson once stated, "If Americans ever allow banks to control the issue of their currency, first by inflation and then by deflation, the banks will deprive the people of all property until their children will wake up homeless." Although Jefferson’s accusation seems ludicrous at first glance, today’s foreclosure crisis lends itself well to such resonant words. The current disarray of the United States’ economy and housing market is terrifying. With banks going bankrupt and fewer Americans being able to pay their mortgages, the question must be posed: how will we ever survive this foreclosure crisis in America?

An economic plan that will first stabilize, then elevate, the housing economy is necessary at this time. Stabilization is key. Without a decent foundation, any fine plan is destined to fail.

To stabilize the housing market, the United States first must face the problem of citizens in danger of losing their houses. Those citizens who meet several criterion shall be allowed to "squat" on their own property for one year. Section one of the fourteenth amendment to the United States Constitution support this proposition:

All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside. No State shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States; nor shall any State deprive any person of life, liberty, or property, without due process of law; nor deny to any person within its jurisdiction the equal protection of the laws.

The third clause of the first section deals with the deprivation of life, liberty, or property without due process. When the...

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...adly reported, one couple, the Donacas, was driven to suicide. According to some authorities, suicides have been linked to the emotional duress of a pending foreclosure. Suicide is radical, but the emotional effects of foreclosure are not exaggerated. Frantic callers who want to talk about financial worries have risen a staggering 20% for ComPsych.

America cannot afford millions of foreclosures. Many citizens do not see the end of the foreclosure crisis coming anytime soon. As a student who is about to enter the real world, I know that I am very scared that I will not be able to afford my own house. I see my parents and brothers struggle to meet their mortgage payments every month and I would do anything to see that stop. If this foreclosure crisis continues, America could end up just like former President Jefferson promised, with America’s children homeless.

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