RJA #15b: Reflection on What You Learned

This class has taught me a lot. I have learned a lot about the web, because I am pretty technology illiterate. I have learned a lot about research, and how to separate good and bad sources from the Internet. I also have learned how to make a argumentative paper, and to conduct field research and my own tables and graphs. I think this will help me the most in my future school writing. Also I think it helped me immensely in research itself. Professionally I learned how to back up an argument, if I ever needed to. I also learned MLA and APA styles of writing and how to make a bibliography. Overall, the things I learned the most are how to write a good research paper, and how to do good research on the web.

RJA #15a: Word Cloud

Here is my wordle

RJA #14: Annotated Bibliography, Part 2

Bartlett, Bruce. “Who saw the housing bubble coming?” Forbes. 02 January 2009. Web. 11

November 2009.

This article is about the predictions that were made before the housing market crashed. It notes which people predicted the housing bubble to burst. It also notes that not many people were listening when the economists and financial analysts were predicting the housing bubble to burst. It also summarizes how the bubble inflated and also how it burst by everyone believing housing prices would only get higher and higher. It also talks about the trend in the housing market that had everyone buying property as investments, because numerous people were profiting from doing this. This article was very helpful to back up my argument.

Case, Karl E., and Robert J. Shiller. “Is there a bubble in the housing market?” Brookings papers

on Economic Activity. No.2 (2003): Web. 20 November 2009.

This Journal article was very informative on the basic information on what a bubble is. It also went into detail about the housing bubble that was happening in the United States. It touches on the inflation problem with the housing prices and also the increase in home ownership and investment. It also informs on how bubbles get inflated with peoples expectations of housing prices to rise. This article was helpful in explaining the housing bubble for my paper.

Catts, Tim “FDIC’s troubled bank list grows to 305”. Daily Finance. 27 May 2009. Web.

19 November 2009.

This article is about how the banks fell and fell hard after the housing bubble burst. It is an article about how the many banks that were in "trouble" due to defaults on home mortgages and the economy overall. I used this article for my argument in my paper. My argument that banks were not at fault in the housing market crash, and that if anything banks suffered just as much as homeowners and investors.

Dubner, Stephen J. “John Steele Gordon on the Financial Mess: Greed, Stupidity, Delusion-and

some more Greed”. Nytimes.com. 22 September 2008. Web. 15 October 2009

This article is from the New York times and is by John Steele Gordon, a specialist in financial and business history. He goes into detail about how the financial mess happened. He talks about everyones greed in the housing boom, but especially the corrupt relationship between congress and Fannie Mae and Freddie Mac. He also talks about the delusion everyone had about the housing prices and the bubble. This was a very helpful article on my stance of greed being a major cause of the housing market crash.

“Equity”. Investopedia. 1999-2005. Web. 20 November 2009.

This was an encyclopedia online on investment jargon. It gave a clear definition of equity in terms that would help any reader to understand what equity was. I used this so that the readers would understand what equity was so that I could go into depth about the problems with equity and the housing market and what role it played.

Kearl, J. R. “Inflation, Mortgages, and Housing”. Journal of Political Economy. Vol. 87 No. 5

Pt. 1 (1979): 1115-1138. Print.

This was a Journal on inflation and housing. I used this Journal article because it was informative on the inflation and the impact it has on the housing market. I used this for my argument on inflation being another cause of the housing market crash. This is a Journal article that explains the basics of inflation and housing. I used it to show how inflation played a part in the housing market crash.

RJA #13b: Annotated Bibliography, Part 1

Sowell, Thomas. The Housing Boom and Bust. New York: Basic Books, 2009. Print.
This book by Thomas Sowell give good information regarding the Housing boom and bust and the causes of the housing crash. This book gives detailed information on what actually happened before, during and after the housing boom and bust. It goes over a lot of the political things that went wrong that fueled the housing boom, and also gives ideas on how to deal with this in the future. This text is very helpful in understanding a lot of the "underground" reasons and causes of the housing boom and bust. Thomas Sowell is also a scholar from the Hoover Institute, and teaches economics. This text is very helpful with my research because it backs up the fact that the Government is a main cause of the housing bust.

"Who's to blame: Washington or Wall Street?" www.newsweek.com. Newsweek. Mar. 21, 2009. Web. Oct. 15, 2009
This is a page from the Newsweek site and it is a debate between John Gordon, Niall Ferguson, and Nouriel Roubini. It is a back and forth debate on who's to blame for the Housing bust. Overall, the blame is shared between Washington and Wall Street, but there is stronger arguments blaming Washington. This was a good article to read, because it gives a couple different views from good resources. I found good quotes to support my argument that Washington was to blame for the Housing Boom and Bust.

Billitari, Thomas. "Financial Bailout: Will U.S. and overseas action stem the global crisis?" http://www.cqpress.com/. CQ researcher. n.d. Web. Sept. 17, 2009.
This article is from Thomas Billitari, and it gives a lot of background information on the housing market, Fannie and Freddie Mac. It goes over the facts and what went on before and during the economic crisis. This is a good article for basic knowledge to introduce my paper. It helped me to form my introduction.

"Committee: Fannie and Freddie ignored warnings". www.msnbc.com. Msnbc. Dec. 9. 2009. Web. Nov. 3, 2009
This article is regarding documents released by the house regarding warnings, letters, emails, that was sent to Fannie and Freddie warning them of risky loans. This article goes over the failure to regulate during the Clinton era, and brings light to the argument that there was failure to regulate in the housing boom and bust. This article is very good for my research paper.

RJA #13a: Field Research Report

I did a survey, and I surveyed 20 real estate professionals with the following questions: (the results are in bold next to the answers)


1. Banks are the cause of the housing crash.
-Agree 80%
-Disagree 10%
-Neither 10%

2. Mortgage Brokers are the cause of the housing crash.
-Agree 50%
-Disagree 50%
-Neither

3. Real Estate Agents are the cause of the housing crash.
-Agree 10%
-Disagree 90%
-Neither

4. Home Buyers are the cause of the housing crash.
-Agree 40%
-Disagree 40%
-Neither 20%

5. Washington caused the housing crash.
-Agree 80%
-Disagree 10%
-Neither 10%

6. Media/Government persuasion, to buy homes, caused the housing crash.
-Agree 70%
-Disagree 20%
-Neither 10%


7. Based on what you have witnessed with the housing market crash who would you put the blame on the most?
-Washington/Fannie Mae Freddie Mac 70%
-Home buyers
-Lenders/Mortgage brokers/Real estate agents 30%
-Media/Government Persuasion


8. What do you think fueled the crash most?
-Greed 25%
-Media Persuasion
-Failure or regulations 50%
-Pushing the banks to sell loans
-Sub prime 25%
-Other_______________

RJA #12c: Introduction Check

I checked and commented on the following introduction blogs: Tyler and Zach

RJA #12b: Presentation Plan

My presentation plan is to present information regarding the three causes of the housing market crash. I will introduce the topic first by going over basic information and knowledge of what happened resulting in the housing market crash. I will go over the greed, regulation failure and misuse of media/government persuasion, that resulted in the housing market crash. For greed I want to go over greed of the politicians, and also the greed of the American home buyer. For regulation failure I want to go over what went wrong with fannie mae and freddie mac. For misuse of media/government persuasion I want to go over the so called "American Dream" that was being pushed and lured in buyers. I also want to present my survey results that I got from surveying real estate agents. I want to also bring up the oppositions of blaming the real estate professionals ie; brokers, mortgage, bankers.

RJA #12a: Progress Report

I have done a lot of my research for my argumentative paper, but I haven't written enough of it. I have done the field research, and research for it. I do need to start putting my paper together. I have a lot of information, but I do not know how I will flow the paper together. I will start doing that ASAP.

I still need to finish my formal outline, write my paper, make some visual aids, and start to put the paper together along with my works cited page. I will finish my formal outline by Nov. 6Th. I will write at least 1/3 of my paper by the weekend of November 6-8. I will finish my paper draft by Nov. 18Th. I need to finish my visual aids by Nov. 15Th, and the works cited page will be done by Nov. 18Th also.

RJA #11c: Thesis Statement Check

I commented on the following links: Zach and Dominique

RJA #11b: Visual Aids

Visual Aids:

Table

Graph

Interview Question and Answer set

Statistics

Pie Chart

RJA #11a: Introduction

The housing crash should have been prevented and America should have been protected from the financial meltdown. Millions of Americans have lost their homes, and our economy is in a scary state after the housing market crash of 2003. Many Americans tended to point the finger at the housing professionals; real estate agents, mortgage brokers, and bankers. What the housing market crash left everyone asking; what caused the housing market to crash? Washington and politicians were pushing the market and selling the American dream. They lowered the interest rate and did not regulate housing inflation. Low interest rates and no documentation lending allowed anyone to get a loan even if they did not qualify for it. The media was used to persuade everyone that the American Dream was owning your own home. No one was regulating the banks and quantity was more important then quality. The housing market crashed because of greed, regulation failure, and use of media/government persuasion.

RJA #10b: Argument

My Argument consists of the fact that I think Washington is to blame for the housing bust. The three main reasons for this is Greed, Regulation failure, and Media/Government Persuasion.
Greed
They wanted to inflate the housing market and they wanted housing prices to inflate. They were looking for fast money so that they could get overseas investors in on the housing craze.
Failure to supervise
Being professionals and running the financial state of our Nation, Washington should have seen this coming. Washington should have seen what would be to come. They did absolutely nothing to stop what was happening, and not only turned a blind eye, but also pushed fast forward.
Media/Government Persuasion
Washington used banks and made loans available to people that should have been warned. Using the banks and allowing for zero down financing, no documentation, lured home buyers into buying more house then they should have been able to. Also lowering the interest rates made the illusion that anyone could afford anything.

Arguments
The arguments that are present against my research paper thesis is that Real Estate Brokers, Mortgage Brokers, and Banks are to blame for the housing market crash. My argument is that these professionals were there to help sell homes and loans, but they did not fuel the push to sell the American Dream. The government is in place to regulate housing inflation, interest rates, fannie and freddie mac. It is not the professionals jobs to keep the economy safe. Washington was being greedy and turned a blind eye on a lot of regulations that should have been in place. There were people predicting and warning the government with what would happen with Subprime. I also think that the professionals, if they knew any better, would have prevented all of this because they are suffering immensely after the crash.

RJA #10a: Thesis Statement

My research question is; what caused the crash of the housing market? For my thesis statement I have broken this question down to an argumentative paper. My claim is that the housing crash was caused by Greed, Regulation failure, and Media/Government persuasion. Using these ideas I have come up with my thesis statement.

The housing market crash was caused from greed, regulation failure, and misuse of media/government persuasion.

Extra Credit Assignment Zakta

Here is my Zakta Guide

RJA #9: Evaluation of Sources

Housing Boom and Bust-Book Source
Author: Thomas Sowell Publisher: Basic Books Date: 2009
Author: Thomas Sowell, Scholar Credibility: The Hoover Institution, Stanford University. He has a PH.d. in Economics from the University of Chicago. His book is published by Basic Books, a member of the Perseus Books group.

Who's to Blame: Washington or Wall street?- Periodical
Website: http://www.newsweek.com/id/190342 Published Mar 21, 2009
I know that Newsweek is a credible magazine, and I know that this is there correct website. Also this is credible because it is a debate with two sides, and it is not biased.

Website: http://gbr.pepperdine.edu/073/housing.html
Source: Internet Author: Peggy J. Crawford, PhD, and Terry Young, PhD
Credibility: I think this is really credible, because it is from Pepperdine University and it is a business report. They both have PH.d's and they have a lot of citations for this article.

Website: http://www.bepress.com/ev/vol3/iss4/art1/
Source: Dean Baker, Center for Economic and Policy Research
The Berkley Press, the new standard in scholarly publishing
Citation: Baker, Dean (2006) "The Menace of an Unchecked Housing Bubble," The Economists' Voice: Vol. 3 : Iss. 4, Article 1.

Periodical: Science Direct
This is an article that is from the Auraria Library and it also cites works and the Author.
Author: Hitoshi Saito
Mitsui Fudosan Co., Ltd., 2-1-2 Muromachi Nihombashi, Chuo-ku, Tokyo 103-0022, Japan
Received 5 April 2001;
accepted 15 May 2001. ;
Available online 15 April 2003.

Periodical: Science Direct
This is also another article that is from the Auraria Library and it also cites works and the Author.
Author: Kyung-Hwan Kim
Department of Economics, Sogang University, CPO Box 1142, Seoul, Republic of Korea
Received 21 December 2003.
Available online 11 November 2004.

RJA #8c: Multimedia

Resource searched or tool used: Blinkx.com, Video search
Keywords used: News + Causes of housing market crash
Search strategies used: Keywords
Date of search: Oct 8, 2009
Number of hits: 74,000
Relevance of hits: 4

RJA #8b: Social Media

Resource searched or tool used: Feed mill, Social Media Tool
Keywords used: Housing bubble crash
Search strategies used: Keywords
Date of search: Oct 8, 2009
Number of hits: +100
Relevance of hits: 3

Resource searched or tool used: Icerocket, Social Media Tool
Keywords used: Causes of the housing market crash
Search strategies used: Keywords
Date of search: Oct 8, 2009
Number of hits: 39
Relevance of hits: 3

RJA #8a: Websites

Resource searched tool used: Bing, Search Engine
Keywords used: Housing, Crash, Causes
Search strategies used: Housing + Crash + Causes - Depression
Date of search: Oct 8, 2009
Number of hits: 17,635
Relevance of hits: 2

Resource searched or tool used: Meta/Mulit Search
Keywords used: Housing Crash + Causes -Depression
Search strategies used: Keywords
Date of search: Oct 8, 2009
Number of hits: 18,324
Relevance of hits: 3

Resource searched or tool used: Infomine, Directory
Keywords used: Housing cause + Crash + Bubble + Bust
Search strategies used: Keywords
Date of search: October 8, 2009
Number of hits: 622
Relevance of hits: 3

Resource searched or tool used: Incywincy
Keywords used: Economy + housing market crash -Depression + Causes
Search strategies used: Incywincy and Keywords
Date of search: Oct 8, 2009
Number of hits: 662
Relevance of hits: 3

RJA #7c: Field Research Plan

For my field research I am going to create a survey for Real Estate Broker. I am also going to be interviewing a couple of Real Estate Brokers. I think that they will be a good source of information, because they have been through the ups and downs of the market. For the survey I am going to include questions regarding what they think the cause of the housing market bust was. I am also going to ask them when they think the housing bust started. With my interview I want to find someone that has been in the business for a while and get their professional opinion on the housing bust. I plan on doing this within the month of October.

RJA #7c: Field Research Plan

For my field research I am going to create a survey for Real Estate Broker. I am also going to be interviewing a couple of Real Estate Brokers. I think that they will be a good source of information, because they have been through the ups and downs of the market. For the survey I am going to include questions regarding what they think the cause of the housing market bust was. I am also going to ask them when they think the housing bust started. With my interview I want to find someone that has been in the business for a while and get their professional opinion on the housing bust. I plan on doing this within the month of October.

RJA #7b: Internet Research Tool Test

Resource searched: Newsvine from Keotag
Keyword: Housing Bust
Search strategies: Newsvine, MSN, Yahoo
Date of search: 10-01-2009
Number of hits: 3
Relevance of hits: 2

Resource Searched: Google from Keotag
Keyword: Housing Boom and Bust
Search Strategies: Google AND
Date of search: 10-01-2009
Number of hits: 20+
Relevance of hits: 2

RJA #7a: Internet Research Tools

I use Google mainly when I search the Internet. I use Google from anything to finding restaurants, dentists, research, etc. I use Google, because it was the search engine that was the easiest, fastest, and had the most results. I really like Google, because I always find what I need on the first page. I do not like Google because they have too many databases. Whenever I search on Google I get a lot of results that are irrelevant to what I am looking for. However I am lazy so the fact that Google is the easiest and fastest outweighs the negative.

RJA #6c: Protopage

Protopage

RJA #6b: Search Strings

Economy + housing market crash - Great Depression
Cause AND Housing Market Crash OR Collapse
Economy + Real Estate Crash AND Collapse

RJA #6a: Periodical Articles

Author: Patrick Wilson; Ralf Zurbruegg
Title: Big City Difference? Another look at factors Driving house prices
Title of Periodicle: Journal of Property Research
Volume and issue Number: 25, no.2 Date: (2008) Pages:157-177
Author: Paul Langley
Title: Sub-Prime Mortgage Lending: a cultural economy
Title of Periodicle: Economy and Society
Volume and issue #: 37, no. 4
Date: 2008 Pages: 469-494
Resource Used: Auraria Library
Keywords: Economy + Real Estate Market Crash Date: Sept 24, 2009 13 hits Relevance: 3

RJA #5c: Checking Search Strings

I commented on the following blogs: Jazmin and Jordan

RJA #5b: Finding Books

The Housing Boom and Bust Author: Thomas Sowell Place of Publication: United States Of America Publisher: Basic Books Copyright: 2009
The coming crash in the housing market : 10 things you can do now to protect your most valuable investment Author: John R. Talbott Place of Publication: New York Publisher: Mcgraw-Hill Copyright: 2003
I searched Amazon.com and also the electronic Auraria Library Keywords used: Housing Market Crash Date of search: 09/17/09 15 hits. Relevance: 4

RJA #5a: Finding Reference Articles

I used the Gale Virtual Reference Library and found a good Fannie Mae article searching Recession and Housing. The information I found here that was surprising was that Fannie Mae was started to stimulate housing construction and curb unemployment. I found this ironic, because now Fannie Mae is somewhat being blamed for the Recession. I also found an encyclopedia on Housing in GVRL and it had a lot to do with the Great Depression and the effects the Housing had on it. GVRL References Fannie Mae: Author: Eduardo F. Canedo Title: Federal National Mortgage Association (FNMA) Title of reference work: Encylopedia of the Great Depression State of Publication: New York, USA Publisher: Gale Date of Publication: 2004 Page: 348-349. Website: FNMA Date: 09/17/09
GVRL Reference Housing: Author: Kristin M. Szylvian Title: Housing Title of reference work: Encyclopedia of the Great Depression State of Publication: New York, USA Publisher: Gale Date of Publication: 2004 Page: 474-478 Website: Housing Date: 09/17/09
The Keywords I used that were SUCCESSFUL were: Housing, and Recession. I used advanced search but was unsuccessful with my topic. Date of search: 09/17/09 Number of hits: 14 Relevance of hits: 2.5

RJA #4c: Checking Research Questions

I commented on the following blogs: Tyler and Robin

RJA# 4b: Writing Search Strings

What was the main cause of the Housing Market Crash AND Bubble Burst AND Collapse

What was the cheif AND core cause for the HousingMarket Crash

What was the main cause in the Housing Market Crash OR Bubble OR Collapse

Economy AND housing NEAR crash

Economy AND housing NEAR Bubble burst

Economy AND housing market crash OR collapse

Economy + housing market

Economy + housing market crash -Depression

RJA #4a: Generating Keyword

Question: What was the MAIN CAUSE for the HOUSING MARKET CRASH?

Keywords: MAIN; major, key, cheif, most important, core, focal

CAUSE; reason, effect, make, force, grounds, source, root, origin, produce

HOUSING MARKET CRASH; Housing Bubble Burst, Collapse

LOG: Economy-> Housing->Collapse

RJA #3c: Developing Research Question

#1. Who correctly predicted the housing bubble bursting? What was the main cause for the housing market to crash? When in history has this happened before, and could we have prevented it? Where has the housing market crash hit the hardest? How did housing prices get so over inflated? Why wasn't Fannie Mae/Freddie Mac more regulated? Should we have the first time home buyer tax credit in place? Would there have been any way of avoiding the housing market to crash?

#2. Who correctly predicted the housing bubble bursting? What was the main cause for the housing market to crash? When in history has this happened before, and could we have prevented it? Where has the housing market crash hit the hardest? How did housing prices get so over inflated? Why wasn't Fannie Mae/Freddie Mac more regulated? Should we have the first time home buyer tax credit in place? Would there have been any way of avoiding the housing market to crash?

#3. I am writing to the general public, and anyone who has/is thinking of buying a home. I think its in everyones interest to understand the housing market, because there will be a time when they will want to buy a home. My purpose in writing my paper is to inform people on what the housing market crash was all about, and what went wrong.

#4. Who correctly predicted the housing bubble bursting? What was the main cause for the housing market to crash? When in history has this happened before, and could we have prevented it? Where has the housing market crash hit the hardest? How did housing prices get so over inflated? Why wasn't Fannie Mae/Freddie Mac more regulated? Should we have the first time home buyer tax credit in place? Would there have been any way of avoiding the housing market to crash?

#5. My final question is: What was the main cause for the housing market to crash?

RJA #3b: Narrowing Research Topic

I think I might need to focus my research topic more. I do not think I necessarily have to broaden or narrow my research topic, but I think I need to focus on one question that I am trying to answer. I do have to make sure I word my research question correctly, so that I have a wider range for writing my paper. I am still not too sure which way I want to go with my paper. I think I have to keep in mind that I need a good topic question so that I can provide more research.

RJA #3a: Exploring Research Topic

Please view my delicious account to view my initial exploration on my topic.
I searched mainly blogs today on different keyword searches and found a lot of good ideas. I think I have a better idea of what I can use for my argumentative paper. I searched Google Blog, Scholar, Web and Technorati. I have a better idea on how to search for GOOD resources. I have found that there is a lot more resources for my topic then I initially expected.

RJA #2c: Delicious Account

My Delicious Account

RJA #2b: Research Topic

The topic I chose to use for my argumentative paper is: What was the cause for the housing bubble to burst? I chose this topic, because I believe I can create a good argument for this topic. Also having been in the Mortgage/Lending industry I have a personal interest in this topic. I feel that this topic should be important to everybody thinking of ever purchasing a home. I think right now during the recession this topic will be just as interesting to others. I also want to research more on this topic and get more facts for myself.

I have been a Mortgage Broker for three years from 2005-2008. I was in the Mortgage industry right before the housing bubble burst. I have background in Sub prime Mortgages, and have seen with my own eyes the collapse of the Mortgage Lending. I also saw how dramatically and quickly house values dropped. Experiencing this first hand has kept my interest in this topic.

I do not know what exactly caused the Housing Bubble to Burst, and I would also like to find out if we could have prevented the bubble bursting. I want to know if anyone correctly predicted the crash, and if they did why didn't they prevent it? Having been a Mortgage Broker, and not getting any warning from the Bank's that this was going to happen, I am very curious in finding more research on the topic. I'm curious as how the Housing Market was turned upside down so quickly, and why even Mortgage Brokers like myself, didn't see it coming.

RJA #2a: Possible Topics

Psychology: Mental Illness and Medication
Finance: Who's to blame for the housing bust
Criminal Law: Three Strikes Law

I have chosen to use the Finance: Who's to blame for the housing bust? I chose this topic, because I am very interested in it, and I believe I can inform a lot of my young peers on the financial housing market. I also have some background in this topic, because I was a mortgage broker for three years. Being a Mortgage Broker before and during the housing bubble bursting, I have background information that I can share with others.

Research Journal Assignment #1: Areas of Academic Interest

• Psychology, Mental Illness and Medication IE: Schizophrenia, Bi-polar
• Accounting, CPA's and Self
• Financing, The crash of the housing market
• Hospitality, Management
• Business Management, Pay salaries
• Criminal Law, Three Strikes Law
• Human Biology, Lifesupport