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What Caused the Financial Meltdown?
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<blockquote data-quote="UPS Lifer" data-source="post: 402287" data-attributes="member: 9789"><p>I think the whole point to this is that politicians know (all sides) that home ownership is a major goal of the American people. It is the American Dream to own your own home. So - if you support that dream you are likely to get votes! </p><p></p><p>The main problem was that banks loosened the money up to include those who really were not able to grab that American Dream just yet. This created an artificial bubble in the housing market starting at the bottom and moving upward. </p><p></p><p>Too many builders do not want to make affordable housing! There is no money in it. What the low income folks need are homes they can AFFORD to buy. </p><p></p><p>These homes may only be manufactured modules that go up fast and are cheap enough for another segment of our population to afford. I am talking about homes that are well under $100K close to a $50K limit or less!!!! These would be true starter homes. It would give people an incentive to move to the next level.</p><p></p><p>Our government can be involved by maintaining or overseeing the infrastructure of these new neighborhoods to be a safe and healthy environment for the folks who own them. The government can assist in helping monitor the folks who are purchasing these affordable housing units. Provide cheap transportation to the arteries of where the majority of the community works. Provide away for each community to self sustain through small business opportunities right in the community. Offer incentives to large business to build factories in these communities as well.</p></blockquote><p></p>
[QUOTE="UPS Lifer, post: 402287, member: 9789"] I think the whole point to this is that politicians know (all sides) that home ownership is a major goal of the American people. It is the American Dream to own your own home. So - if you support that dream you are likely to get votes! The main problem was that banks loosened the money up to include those who really were not able to grab that American Dream just yet. This created an artificial bubble in the housing market starting at the bottom and moving upward. Too many builders do not want to make affordable housing! There is no money in it. What the low income folks need are homes they can AFFORD to buy. These homes may only be manufactured modules that go up fast and are cheap enough for another segment of our population to afford. I am talking about homes that are well under $100K close to a $50K limit or less!!!! These would be true starter homes. It would give people an incentive to move to the next level. Our government can be involved by maintaining or overseeing the infrastructure of these new neighborhoods to be a safe and healthy environment for the folks who own them. The government can assist in helping monitor the folks who are purchasing these affordable housing units. Provide cheap transportation to the arteries of where the majority of the community works. Provide away for each community to self sustain through small business opportunities right in the community. Offer incentives to large business to build factories in these communities as well. [/QUOTE]
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