Solving the Foreclosure Crisis Essay

Solving the Foreclosure Crisis Essay

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There is no painless solution to the housing crisis, any approach is going to cost money. But what is money? As the Brazilian song goes, “Money is just to spend.” And that is correct, money is inanimate with no feelings, and no emotions. Money needs no home, but the homeless do have feelings and emotions.

Unlike money, the dispossessed suffer. It is far better to spend money than to make people endure any more hardship than they have to. Who wants to live in the street? Who wants to be cold and homeless? Not everyone has the pay and bonuses of a Goldman Sachs managing director.

And after all, a productive citizen isn’t one that lacks a proper home to retreat to after a day’s worth of work. As much as one can understand the foreclosure crisis in terms of the human hardship that people undergo, one can see the crisis in very hard economic terms. Not only is the crisis an indicator of the relative economic health of our country, but also its continuance is a dead weight on the economy. If home is where the heart is, America’s heart could certainly use some surgery.

Here are ten simple and straightforward solutions. All of which should be applied in the order that they are listed, that is to say if solution two does not work, only then move down the list. However, all the various solutions can be applied at the same time, too.

1. First and foremost, the U.S. should require banks and other mortgage lenders to recognize they made bad loans and those loans must be written off. That is, as Japan did not do—and prolonged its economic stagnation—the US should recognize that houses being foreclosed are bad debts and simply write off the debts! This includes sub-prime as well as houses for people who have lost their ...


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...ation, Hawaii was tied with Mississippi, no offense to Mississippi. The U.S. needs education to compete with other countries. It seems the U.S. is asleep, or is busy watching TV, and playing video games. My point being that the U.S. needs to start putting money into where it counts.

7) My ten points above can be written up in two pages. That is, any contracts for each of the ten points can be put in two pages. It isn’t necessary for any of my proposals to be put into thousands of pages. I suggest that Technocrats write in the details. Politicians are helping destroy the country. The case in point is Hawaii.

I am a first-year student at Brown University, and I have traveled to all seven continents and 32 countries. I can see how the US is falling behind. Solving the foreclosure problem could be one step in putting the US back on track, and back on top.

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