Thursday, September 12, 2013
October 10th, Housing Market Indicates Trouble. The housing industry seems to be going for a bigger decline and foreclosures hit a record high in August. Housing is one of the largest factors in the US economy and almost 40% of consumes are spent on housing situations. When home values fall, Americans seem to spend less, banks lose money, and oversupply of houses. To fix this problem they are thinking for the lenders to cut the amount of money the borrowers owe to match the value of the house, while the owners give up half of any gains if the house is in value. Another solution may be to let people refinance so they most likely will not default. I think that it may be a good idea to use one of these options because I think it will benefit us and the economy in the long run. It will leave us with more money not using all of our money for the house you are buying, all the foreclosures can hurt the economy because they make the prices drop so it hurts the housing markets.
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I agree with you. It would be best to use one of these options so we are left with more money. We do not want to hurt the housing markets or people will be charged more.
ReplyDeleteAgreed. The more foreclosures the more money lost. They need to use on of the options just to at least try to improve it.
ReplyDeleteYes, I agree that foreclosures hurt the the economy, by foreclosing a bank doesn't get their money and another person is put out on the streets, I think we need options so that we can improve the housing market
ReplyDeleteI think those were great ideas so the economy doesn't fail, but dropping the prices of houses for people to afford them would be ridiculous and losing money for the men and women that sell the houses, in a fair nature i suggest that the work on a yearly payment of the house instead of a monthly payment for the people that can't afford the house.
ReplyDeleteI agree that housing is one of the biggest factor's in the US economy. Almost all Americans will buy a house at some point and it is one of their biggest economic decisions. It is such a huge decision because they can cost a great deal of money.
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