LINKS

Here are some useful links! In no particular order!

1. A little bias - Its always helpful to know the viewpoints of extremists to help better shape the two opposing sides. Don't take all of the information as truth, just take it as a refreshing and well argued view point!

2. Portland Housing Blog - A great region specific blog that relates to the housing crisis. Its always good to see another region's take on the issue other than your own!

3. Bubblemeter - Another pretty informative and interesting blog specific to the housing BUBBLE. A great read!

4. Free Republic - this puts the issue in such easy to understand terms. Really helped me visualize the situation at hand.

5. Forbes - a great article that really helped me understand an interesting side to the debate!

6. Investopedia - this site really helped me understand the whole subprime situation, really helpful with their explanation!

7. Terrible Time to Buy? - Great advice. I thought this site really helped me understand where things are standing currently in our present day and time (as opposed to last year or the year before)

8. Real Estate Channel - A refreshing viewpoint on real estate and the Republican involvement in the situation. Extremely interesting.

9. Huffington Post - Always great articles to keep readers updated on the issue. It is a very intriguing and great online journal to get lost in. Has so many details about the housing crisis.

10. New York Times - Always helpful and very interesting. A classic.

Self-Analysis

     Aside from being something home-buyers should have done before buying a house on bad credit (haha!), self-analysis is an imperative factor to any successful blog. 

     I started this blog having only a guess about the housing crisis. I figured that hearing so much about the news and foreclosures and the "housing bubble" that it would be really worthwhile to research and study. With all of the articles and blogs out there, almost 99.9% of them used so many terms and elevated language and jargon that it was so hard to understand. That's why I also wanted to help others understand the situation at an easier to understand level. I mean, just because it mostly affects adults doesn't mean it can only be written about it in that way. With those two purposes, I set off on an extremely interesting and thought provoking academic journey.

     With the extensive amount of research that I did in order to find out certain terms that don't directly apply to me (I am not a home-buyer myself), I tried my best to help readers understand the crisis at hand. In doing so, I also discovered the lack of action that can be taken on the situation in the present. Since many of the bailouts and government intervention that came with the housing bubble came a few years ago, the actions and ideas of the government right now (Democrat and Republican alike) in regards to the housing bubble is to leave it alone to let it naturally heal itself. Because of the lack of elasticity of which I could present the different sides of this issue, I tried to keep my topic exciting and easy to understand by supply current event issues related to the crisis as well as different explanations for the problems Americans are facing. In doing so, I really was able to learn a lot about research. 


     Research for a class or paper is one thing, but researching and presenting information that will enable a certain audience to understand it is extremely difficult. I assumed that most college students didn't understand what a subprime mortgage was, but in order to understand what a subprime mortgage is, one would have to understand what it means to buy a house using credit and why it is important to have good credit. In researching for this topic, I was forced to deepen my understanding of the issue in the hopes that it would help my readers. Instead, I think it benefited me the most. From the research I conducted on housing, I have learned that researching ANY topic should involve a deeper and more complex understanding of the subject to the point that you could answer many questions about it. 


     As a thinker, I have really learned to process and analyze an issue into its constituent parts better. In order for a large portioned dish to be consumed, it must be taken in small bites. This analogy is how I now view research. Yes, I could have just researched the housing crisis and called it a day. Instead, I went deeper into the different schools of thoughts that make up the different sides. This is what I think I have learned the most as a thinker.


     All in all, I have to call it a day. This blog has been exciting and interesting to write. I hope you all have enjoyed reading it!!

Implications POST

     The implications of the housing crisis determines a lot of the future of America. If this situation is not resolved, it could result in drastic changes to the future of the world. Because of the gravity of this issue in relation to the world market, a lot of countries could be affected by the unchanging conditions. Not only would it affect the world, it would most importantly affect many different aspects of America. Unemployment, the economy, education, almost everything can be tied to the improvement or continual regression of the housing market. 
     If the housing market improves, people buying houses on good credit, less and less foreclosures and evictions, contractors building a fair amount of houses based on demand (not oversupplying) and a whole lot of other conditions, the American economy will improve along with it. In many cases, if the housing crisis improves, that will have meant that the economy has already improved. For example, employment might be going up, which results in more money for people and families, which might result in a higher demand for houses and real estate. 
     If the housing market declines even further, the issue will continue to be debated and argued over. Should government intervene and take a strong stance and action on the situation? Or should they allow the market to naturally come to a healing point and fix itself? This latter option is one that many economists, government officials, and consumers are scared about. If the situation does not improve, if foreclosures grow, houses decline in value, defaults and mortgages can't be paid, America will see very drastic changes. Loss of homes will lead to even more unemployment and companies going bankrupt (housing contractors, construction companies, interior designers, real estate agents, etc). An unimproved housing market will indefinitely result in a dire future for America, and the world at large.

3 Blogs YOU should read (after reading mine)

Based on all of the positive comments that my fans have left me, I realize many people probably read my blog daily. While I am grateful for everyone's support and readership, I would also like to recommend a few blogs that are also worth reading (in no particular order):

1. http://diggingfortrouble.blogspot.com/

This blog details the oil drilling issue that America and the world has been facing in recent times. This blog is extremely well researched and provides an interesting view and insight on a subject and topic that is typically dry and not very interesting. Gasoline prices affect everyone, even those who do not drive. This blog has information and insight that is applicable to many.

2. http://algaepoweringthefuture.blogspot.com/

This blog details an alternative source of energy and fuel that many people do not usually think of- algae. That in itself makes the blog very interesting and refreshing. Not only is there more information on the extremely modern and technologically advance topic of algae as a source of energy and fuel, there is also a lot of information about the different sides to the issue.

3. http://aactionined.blogspot.com/

This blog details a subject and topic that is very applicable and real for college students. Not only does it delve into the different facades of the issue of affirmative action, it also presents a lot of thought provoking posts that make readers (like myself) think and reflect. This blog is extremely interesting and relevant to almost everyone.

Foreclosure Crisis Update

     A recent hot topic related to the housing crisis is the FORECLOSURE crisis. If you have read my previous posts, you would know that there are many houses that are currently in foreclosure. 

     Just to refresh your mind in case you forgot, foreclosure is when a person that lives in a house paying mortgage can no longer pay their mortgage (due to unemployment, loss of money, etc.) and so then the person is evicted, their rights and ownership of the house is taken away, and the bank or government possesses the property, usually auctioning the goods and furniture in it, and then selling it on the market typically for a much lower price than it was originally worth.

     Anyways, the current crisis revolves around the fact that it was recently discovered that many buyers were given subprime loans very freely. The process to get loans for buying a house are supposed to be extremely hard and complicated. However, during the time of the housing boom and the expansion of the bubble, many firms, banks, and financial institutions gave out loans very leisurely and freely. Current investigations have revealed that the process was much easier, and even in many instances, racist in that people of certain races and socioeconomic classes were given harder to pay back subprime loans which in many ways is a setup for failure. 

     Based on this information, and this article, what do you think? Do you think financial institutions were greedy and racist or careless and shallow in their dealing with giving out subprime loans?

HOUSING THEORY

     When broken down, the solution to the housing crisis of today can really be summed up into the degree of which the government should regulate the housing market. 
     On one side, there are many that believe the government should leave the housing market alone for a while. This theory, mainly held by Republicans, and currently, many Democrats, goes back to the ideals of French merchants when asked what the government should do to help them. They simply said "laissez-faire," which means "let us do," or "leave us be." This idea of a free government hand on the economy was also further explained by notable economists, George Whatley and Adam Smith. 
     On the other side, there is the theory that government should have a strong hand and influence on the economy and its markets and prices. This theory runs back to the idea of a command economy, which is when government controls the economy, and also socialism, which is an economic theory that says all means of production and businesses are publicly owned. While these ideas are more extreme, it is the backing to many of the ideas of mostly Democrats and Liberals. An example of this is the bailout of 2009. Because of the downward spiraling financial houses, the government intervened and gave bailouts to large financial institutions that needed them. 
     Just to clarify, by no means am I trying to say that all Republicans believe in free market economies and laissez-faire or that all Democrats believe government should take a stronger role in the economy. However, after dissecting the issue and the theories on what should be done, the two basic theories that surround the housing crisis really do come down to two polarizing ends of the spectrum. While the bailout of 2009 was an example of government intervention, the current policies surrounding the housing crisis are very much laissez-faire. The government is trying to walk the tightrope between having a hand in the economy, and letting it recover on its own.

FALL BREAK MENTAL BREAK