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  • Essay / The Foreclosure Crisis - 1367

    The United States has faced many difficult problems in the past, but our country now faces an even greater dilemma: the foreclosure crisis. Starting around 2007, a surge in foreclosures across the country pushed people out of their homes, and the number of foreclosures continues to rise at an alarming rate. This crisis must be resolved as quickly as possible, but how? The foreclosure crisis will end when our economy improves, when we are less dependent on oil, when we turn to our own resources, and when more job opportunities arrive. The vicious circle of the economy in the United States has been spinning for a long time. . With the economy in bad shape and the importation of oil from foreign countries, oil prices will rise. Since Americans rely too heavily on oil, they have to pay for oil, and when oil prices rise, Americans pay more for what they were getting for a dollar a gallon. Not only are Americans paying more for oil, but so are businesses, leading to higher prices for everything. The cost of transporting your car to work and mowing the lawn is going to skyrocket. The cost of transporting goods such as groceries will increase, just as the importation of goods from other countries will increase. Because everything is more expensive, Americans have less money to pay bills such as their house payments. Businesses are suffering from a decline in consumer purchases and productivity rates, forcing many companies to lay off loyal employees. Many people lose their jobs and, sooner or later, fall into debt with no way out. People then take out loans that they cannot repay. Before they know it, collection agencies are knocking on their door with a notice that their house will be sold at auction while they are left on the street, result...... middle of paper ......the American would be employed and off the streets in the United States. When the economy finally recovers, our country could also help developing countries do the same. The world would see our example and want to help us too. Every country in the world could develop in no time. All of this could happen, starting with drilling in Alaska and becoming less dependent on oil. When the United States economy improves, when Americans become less dependent on oil, when drilling in Alaska begins, and when more job opportunities become available, the foreclosure crisis will occur. END. Across the country, foreclosure rates will drop and the United States will be more unified than ever. If one problem could be solved, the others will solve themselves. The foreclosure crisis can be solved, the economy can be revived, the United States will be a better place.