The fact that Wall Street has returned to gifting executives millions of dollars in bonuses says that we are right back where we failed during the previous administration, EXCEPT the unemployment rate has gone up AND housing prices are continuing to fall. Unemployment is bad enough but ring the alarm for housing prices in decline. That American dream is buttressed on owning a home.
7 Reasons Housing Is Doomed (no M.F.)
It isn’t simply owning a home either but the ideal that home ownership was a path to becoming middle class. It gave your family stability and equity that you could assume risk against to start college loans or even consider retirement. That dream is over now for Americans. Until we regulate the brazen recklessness of Wall Street we will not be able to truly stabilize our economy. Putting Wall Street in a headlock isn’t the final solution either, however it is a start.