Solving the Foreclosure Crisis

The first thing to understand is that the government can not solve the crisis. Only the free market can solve the crisis. The free market is based on the individual's free will. First of all, in the free market, not everyone wants a house. Not everyone wants the cost of the house. Not everyone wants to keep a home. Everyone does not necessarily want to do the necessary care and work for their own house. One reason for the housing crisis is "fair housing law".

The problem of solving the foreclosure crisis first raised the question "Is there really a foreclosure crisis?" The crisis is indeed in danger, but it is not caused by foreclosure of mortgage loans. . Foreclosure is a mechanism to deal with obligations people can not borrow. The potential impact of housing foreclosure (slowing down by the "affordable family plan" of the Obama administration) is actually a market, not a debt but a crisis. The history of the world economy has experienced sovereign debt crises such as Latin America in the 1980s, Russia in the latter half of the 1990s, and Argentina in the early '00s. The debt crisis in Europe is the most important thing in the business world since 2010.

At first it is a little background. Six years ago, I joined the community land trust campaign to help resolve the foreclosure crisis at Brooklyn. As part of the Columbia University graduate studio, we contract with the New Economy Project (NEDAP) to come up with ways to prevent home owners of ethnic minorities from losing their houses or getting them back from particularly frightening houses I joined. The looting loan practice of Lost House has laid the foundation for many ethnic minority communities. (By the way, foreclosure crisis will not end in these communities.)

Six years have passed since the foreclosure crisis occurred, and technical termination and recovery period of the economic recession began in five years. The nationwide foreclosure crisis has been relaxed. However, in Maryland, foreclosure recently recorded the highest value, Maryland ranked 16th in foreclosure, but by 2013 the state rose to 3rd place nationwide. The number of applications has surprisingly increased 250% between 2014 and 2014, and the foreclosure rate of Prince George County has increased by 50% this year.

Destructive economic events I) Crisis of foreclosure The crisis of foreclosure of housing loans is due to the severe decline in city income, the increase in crime rates and homelessness, and the increase in vacancies based on surveys using online questionnaires I brought it. During the bubble of the subprime mortgage, loot loans and excessive family overgrowth occurred. Peterson explained the foreclosure crisis in Wallison. - Wallison thought that the main reason for foreclosure crisis was due to policy implications.