Assign 8 - Pogodzinski Econ 166 Urban Economics Assignment...

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Pogodzinski Econ 166 Urban Economics Assignment 8: Housing Policies in the U.S. Ever since 2004, we as a nation have witnessed a plummeting housing market which has proved to be a dominant factor in the current financial crisis. Homeowners everywhere in the United States whom purchased and invested in homes on credit have watched their values depreciate; as well as, they suffered losses through short-sales. Many others have been unable to keep up with outrageous mortgage payments for various reasons. The most common reasons for not being able to make mortgage payments include unemployment and ridiculous “through-the-roof” adjustable interest rates, or what many consider “sub-prime mortgages.” In a recent article, U.S Mortgage Delinquencies Reach a Record High, David Streitfeld reports that homeowners more than ever are struggling to make their monthly mortgage payments. The statistics included for the claim that for the third quarter of 2009, one in ten home owners with mortgage payments are behind at the least one month. Streitfeld writes, “Unless foreclosure modification efforts begin succeeding on a
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Assign 8 - Pogodzinski Econ 166 Urban Economics Assignment...

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