Essay on The American Dream to the American Nightmare

Today’s real estate market is one of uncertainty and instability. As property values continue to drop and foreclosures lead to the depreciation of more and more neighborhoods, the true bottom of the housing market is still a guessing game. The subprime mortgage collapse has taken its toll on home owners, investment groups, financial institutions, and the economy as a whole. The once thriving market that saw the construction of 2,068,000 new homes in 2005 alone has since imploded (Utt 2008). Until the foreclosures and short sales that saturate America’s neighborhoods are gone, there is no chance for any home to regain its value. It is estimated that 9 million â€Å"upside down† homeowners continue to struggle to pay for houses that they owe†¦show more content†¦These flags along with creditors failing to verify employment, level of income, and predatory loans greatly contributed to the extremely high foreclosure rate. There was a wide range of predatory loans offered over the course of the housing bubble. A couple particular types that were popular with lenders and borrowers was the adjustable interest mortgage (ARM) and the interest only (I-O) loans (Housing 2007). The adjustable rate mortgage loan was extremely appealing to borrowers due to the low introductory interest rate (Housing 2007). These ARM loans were a convenience for investors looking to get in and get out. The low introductory rate kept payments at a minimum while people could get in make upgrades and â€Å"flip† the property. The downfall to this type of loan came to those who could not sell or were looking to keep the property. Once the loan hit a particular day usually the two year mark the interest rate would fluctuate upward and make the payment unaffordable for many. This type of loan greatly contributed to the subprime foreclosure numbers totaling 1.65 million from November 2008 to February 2009 (Squires 2010). Another option offered by lenders was the interestShow MoreRelatedThe Nightmare Of The American Dream1538 Words   |  7 PagesThe Nightmare of the American Dream. Introduction The future of work is a topic that many people don’t take the time to actually analyze and question as to what it will be like when the future actually comes. The films Wage Crisis by Michael Maher; Park Avenue: Money, Power and the American Dream: Why Poverty? by Alex Gibney; and The Secret of Oz by Ben Still, are some of the films that highlight the future of work and the how the wages and the economy are really affecting those who are looking forRead MoreIs The American Dream Creating An American Nightmare?1381 Words   |  6 PagesIs The American Dream Creating an American Nightmare? Children are told from an early age that they can become anything they want to be, and people flock in droves to the United States, â€Å"The Land of Opportunities† to achieve this American Dream. Author, James T. Adams, coined the term American Dream in his book â€Å"The Epic of America† as, That dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement.† (Adams pRead MoreThe American Dream : An Unfortunate Nightmare1235 Words   |  5 Pages The American Dream: An unfortunate Nightmare Institutionalized racism: the big elephant in the room. By definition, institutionalized racism is â€Å"Any action, intentional or unintentional, that is based on race or skin color and that subordinates an individual or group based on skin color or race is racism† says professor Vernellia R. Randall( cite). Institutionalized racism exist in ever facet of our society. They’re many cases where a decision was made based on someones race. For example: discriminationRead MoreCollege : An American Dream Or A Financial Nightmare? Essay1238 Words   |  5 PagesCollege: An American dream or a financial nightmare? 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But happiness is not, contrary to the beliefs of the American Dreamers, measured on a checklist including 2.5 kids, 1 dog, 1 cat, quaint house in suburbs, white picket fence, 2 car garage, freshly mowed lawn, etc. That image is a facade over the ever-crumblingRead MoreEssay on The Great Gatsby: American Dream or American Nightmare?1739 Words   |  7 PagesFitzgerald, The Great Gatsby The American Dream, a long standing ideal embodies the hope that one can achieve financial success, political power, and everlasting love through dedication and hard work. During the Roaring 20s, people in America put up facades to mask who they truly were. In The Great Gatsby, Fitzgerald conveys that the American Dream is simply an illusion, that is idealist and unreal. In the novel, Gatsby, a wealthy socialite pursues his dream, Daisy. In the process of pursuing DaisyRead MoreThe American Dream945 Words   |  4 Pagesbelieved in the American Dream. People that wanted to live better life come to America and hoped that they will have an opportunity to work and get their dreams. The American Dream is the heart of all American images, its controls how everyone act and what they do. Most people believe that the American Dream can be if you work hard and give all your effort to the work that you do. In the both stories â€Å"The Lost ‘Beautifulness’ Soap and Water† by Yezierska, she gives examples of American Dream that becameRead More Essay on African-American American Nightmare in Song of Solomon798 Words   |  4 PagesAmerican Dream or African-American American Nightmare       The Declaration of Independence was written so Americans could achieve this dream, but the African slave was never intended to be a part of this American Dream. To the African-American, there were and still are many restrictions that go along with the American Dream.    In Toni Morrisons novel, Song of Solomon, Macon Dead craved for the American Dream. He was in denial and believed that he could be just as successful as theRead MoreTaking a Look at Nightmare Disorders992 Words   |  4 Pages A nightmare in particular is an event that typically occurs during the rapid eye movement stage (REM) of sleep. Researchers and psychologist (Lance Schrijnemaekers, 2013; Barlow Durand, 2012; Levin Nielsen, 2009) distinguish nightmares as an event that awakens person, whereas â€Å"bad dream† does not. One of the prominent features that is most notable in nightmares is that they can induce anxiety, fear, as well as distress within an individual who experiences them (Nightmares, 2010). At what pointRead More The Role of Financial Stability in Truman Capotes In Cold Blood1283 Words   |  6 Pagesstability is an important component in the typical view of the â€Å"American dream.† It is fair to say that the Clutters embody this concept, which involves a pattern of social and personal virtue that is accompanied by financial stability. The opposite seems true for those characters of Dick and Perry who fail to exhibit virtuous behaviors and therefore, never attain financial stability. These characters embody the â€Å"American nightmare.† Capote argues in his story that tragedy is not confined to the