While there are certainly a number of causes for the crisis, it can no doubt be directly related to the current economy and the fact that the unemployment rate is the highest it has been since the great depression. However, the initial cause is more deeply rooted in the fact that buyers have been being approved for loans that were above their means. Lenders were so overzealous to increase the number of loans they closed on that they were lending funds to buyers with little to no money down. They were also not paying close enough attention to whether or not borrowers were really capable of repaying their loans. This trend led to a domino effect that increased the amount of buyers who could no longer afford their mortgage payments based on their debt to income ratio, forcing them to be foreclosed on. This effect has only be...
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...new jobs would be innumerable. This country has become as great as it is because we as a people work together to solve our problems. We need to come together once more to try to turn this economy around and find solutions to bring us back to the strong nation we were before.
I understand that the ramblings of an 18-year-old probably seem irrelevant when compared to those of elected officials, economic gurus and other experts; however I am honored to be given the opportunity to speak my mind and share my ideas for finding ways to turn around this economy, thus solving the foreclosure problem. This is crucial to securing not only my future but the future of all the other young adults making their mark on this county. After all, one day it will be up to my generation to lead this country and we need to preserve it for our children and our grandchildren.
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