The burst of the housing bubble and subsequent foreclosure crisis our country has seen over the last few years has caused many people to lose their homes, forcing those with even jobs to move in with family, hop from cheap motel room to motel room and even forced some to live on the streets. It is completely unacceptable that we have allowed one of the basic necessities of life, shelter, to become one of this biggest stresses in our society. On top of that the crisis has left a dearth of vacant homes, allowing the seedy underbelly of society, crime, to move in. Our government has already helped, with the people's tax money, the banks deal with the loss of value from real estate, yet the banks have done little to help the people! They are even making the market worse by continuing how they have been!
I, Adouchi, know just the way to handle this! My plan has three goals: keeping those at risk of losing their homes in their home, helping those who want to buy a home but are low income get into a home, and helping those who have lost their home into one they can afford. For my first goal, I would use my Gaze Of Justice to show those in charge of the banks that it is in their better interest as well as the public's, not to kick people out of their homes but to work with them to keep them there. My gaze would show them how they are glutting themselves of future profit by continuing to destabilize the market and making fewer eligible buyers (as those with foreclosures on record have to wait many years to get a loan again) to make them money on new loans. My gaze would also show them that they have tightened restrictions on loans so much that now even with cheaper homes that are vastly more affordable, they are preventing many low-income people who would at these prices have mortgages lower than their rent from buying, which is preventing them from making money. For my third goal, since my Gaze of Justice is already changing the minds of bankers, how about some more government officials? Even with my gaze bankers are going to be wary of lending money out again to those who have already been foreclosed upon. I would use my gaze at the state level to allot funds for communities to buy up some of the vacant homes to be used for people who have been foreclosed on but want another shot at buying a house. The communities would rent these homes to those who have been foreclosed at rates similar to what the mortgage now (at the lower home prices) would be. Residents would be responsible for all upkeep unlike a typical rental, on the condition that after so much time of renting with on-time payments, they would then purchase the home with the government backing the loan for the same payment as their rent.
While my Gaze of Justice persuaded the bankers in terms they could appreciate, money, the effect is much broader than that. Citizens will rest easier and turn their attentions to more important things int he community without having to worry about if they are going to have a roof over their heads. Those unable to buy homes before in the inflated market will have a chance to become a permanent part of their community versus a temporary renter. This will keep and reoccupy homes, which keeps away crime. It is also known that owner-occupied properties are better taken care of, so it even has the possibility of making the neighborhoods even better than before the crisis started. Just imagine what people could do without that constant worry they now have.