Tuesday, November 3, 2009
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.
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This is a good intro, it grabs my attention well. I would say to try and make it a little longer but it is great. On the sentence "Washington and politicians were pushing the market and selling the American dream." I would change that because when you say Washington, it already means the politicians because that is where our government is centralized; so i would just say washington. But I think overall this brings out the reasons really well. Good job.
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