Fault Lines - For Sale - The American Dream

It almost unimaginable, having to wake up everyday and do what Dep. Art Gonzalez does. The housing bubble had grown so big that when it burst a wave of vacant houses had spread throughout the country fast. This was a devastating development for the many homeowners that were left hanging by their banks, who profit from risky mortgages and the low-wage earners who require them to secure homes. Homeownership, in America especially, is a promise that almost everyone relies on for family structure and financial equity. When interest rates on loans skyrocketed during hard economic times many homeowners were left homeless. A systemic increase in foreclosures and unfair financial policy has left many people without hope and in need of shelter.

There is a concerted effort being made against the banks in rapid foreclosure. Many families have been torn from their homes so fast that they’ve left belongings behind. These houses then sit dormant, taking up the same space yet serving no purpose. Thousands upon thousands of families have lost stability and a place to sleep. It has become illegal for these people to eat and sleep in their own homes. As one Chicago activist said: “it’s illegal, but it’s not morally right… we got hope, hope don’t pay the bills, hope ain’t housing… you can’t have that dream of a house in America right now.”

Due to the financial nature of the crisis, it is easy to guess who bears the brunt of the burden. While the banks have reclaimed properties, due mostly to the rising rates of the loans they’ve provided to those in need, lower income communities have been clearing out one by one. It is a process that is necessary if the banks wish to survive, yet why, if the financial crisis in their hands, must these people pay for it?

There seems to be no compassion or understanding on the part of the establishments that have unloaded their fiscal burdens onto those who are unable to cope. It is a faceless crime that has claimed so many, and at a daunting rate. Nearly everyday low-income neighborhoods found themselves a few more shy of a community, not to mention complicated proceedings for those who had been taken advantage of. The banks have been responsible for subversive procedures in the reclaiming of homes. Many people have been unaware of who exactly is responsible for foreclosing their homes and in many cases the banks have done so without proper authority. Many of the foreclosures have been wrongfully committed by banks who simply do not have the right to do so. The banks then proceed to sell these homes without the consent of the homeowners who would wish to do everything in their power to hold onto their own property and way of life.

What is at stake in this crisis is the overall economic and racial disparities facing this nation. Once again the lack of economic capital has been the catalyst for the widespread homelessness among many black and latino citizens. Without a chance to amply provide for personal prosperity low wage earning people do not have many of the means to overcome such immoral practice of discrimination and injustice. It is all done with money in mind, money that is not distributed fairly or equally amongst all the classes. In the end the lower class families that rely on what little they can get are the first to experience the ugly side effects of economic collapse. Inevitably keeping the money and thus the power in the hands of those who control policy.

The unfair practices of banks and government agencies needs to be revised and cured if there is ever to be any decrease in foreclosure and homelessness. Cycles of unfair policy will always lead back around to the same issues of responsibility at hand in our society today.

Economics | Rights

QR Code
QR Code fault_lines_-_for_sale_-_the_american_dream (generated for current page)