I believe this “foreclosure problem” has been years in the making. The problem only emerged last year due to the economic situation. With so many people out of work or working multiple minimum wage jobs, it's difficult to pay expenses and bills. I have two solutions I want to discuss, short term and long term. The short term solution, I believe, can be implemented as quickly as possible, which is what owners need in this economy to get back on track. I foresee the long-term solution being incremental to helping college graduates grow the economy by making investments (like buying a home). As of today, college graduates can earn around $30,000 or less, which is not a comparable salary after spending four years in college with mounting student debt. It becomes difficult for the younger generation to make investments such as buying a house or a car with this salary scale. For the short-term solution, maintaining the rebate for the purchase of a first home or a tax credit of $8,000 for the initial down payment. payment or cost of housing should be taken care of for a longer period. What a gift! However, we must do more. Perhaps another incentive (gift) would be a reduction in property taxes for a year. This would give first-time home buyers a chance to save and use those untapped funds to purchase furniture, appliances, electronics, carpeting, and various other miscellaneous items for their new home. This, in turn, would help boost these various industries, thereby creating more jobs for unemployed people and, in turn, helping to reduce the number of foreclosures. People would work and therefore pay their expenses. Continuing middle of paper...well. Therefore, the domino effect continues to prevent these parents (the "baby boomers" who have disposable income) from investing in real estate, buying a car and traveling, because the parents are again in the position of providing for their offspring. Baby boomers are in better shape than their children who went to college to be more financially sound than when they began their journey through life decades earlier. As mentioned, this is the long term solution so that the economy can grow and be stimulated in such a way that the continuous circle of life will continue and can continue and not stagnate. I have only slight hope that this will be accomplished. I hope that I am wrong and that I and my peers will gain gainful employment in jobs with a living wage so that we can move forward independently and achieve our dreams as a productive part of the workforce artwork..