-
Essay / Solving the Foreclosure Crisis: Just Have Hope - 956
Solving the foreclosure crisis America is currently facing would be no easy task. It is common knowledge that even the greatest minds in our country cannot find a solution. However, I think the problem could be solved with better advertising. The public, primarily those who still have jobs and are earning money, could benefit from knowing that currently foreclosed homes are for sale at prices much lower than they would usually get. Those who are still employed and plan to remain employed throughout the current recession would most likely consider upgrading to a larger home if they knew that now is the ideal time to buy, ahead of another peak in marketing. The economy works in cycles, anyone can tell you that we must learn the lessons of our history. We are currently in a recession and millions of people are unemployed. However, that doesn't mean it's the end of the world. The economy will recover, some financiers even believe that we are already recovering. When a home goes into foreclosure, the bank that made the loan for that home usually tries to sell the home for as low a price as possible so they don't have to continue making payments on the home. If people who are still employed knew about it – which wouldn't necessarily be considered common knowledge – they would most likely step in to buy the house. America sells itself through advertising. If a product is presented to us in an attractive way, whatever that product is, we want to buy it. There is really no solution for people who can no longer afford their housing. No new jobs are created and houses simply cost money. There's really no way around people not having the money to pay their...... middle of paper ......re. Unfortunately, we cannot generate new funds for those who do not have any. Payments for housing can only be made at a limited cost, and the unemployed can only spend very little money. For this reason, we must find the solution to houses that sit empty, while banks and lenders pay for them. The solution to the problem of these empty houses while they are paid for is to enlighten the public on how much cheaper it actually is to buy a house today, compared to before the collapse of the economy and after its recovery . The time it takes to buy foreclosed homes is limited, it is inevitable that the economy will improve soon. If homes are purchased now, while they are cheap, thousands of dollars can be saved. If the public were aware of this, especially if the publicity was broader and more attractive, the problem of foreclosures would certainly be greatly improved...