Sample Essay
The main arguments that have been highlighted in the article pertain to the causal effect of the breakdown of the housing and mortgage industry in the US and how the capital market crash has also aggravated the crisis. While the recovery efforts have been made by the government to stabilize the mortgage industry, environmental factors like increasing bond rates and increasing demand for housing is driving the cost of acquiring a mortgage higher for the customers in the market. The article argues that increasing costs of mortgages combined for the debt stricken customers can not enable the mortgage industry to recover from its current crisis despite the recovery efforts.
In order to enable the mortgage and financing industry to recover from its past issues, a slow but graduate reestablishment focused strategy has to be deployed which takes into account the increased demand presented by the customer for housing and their financial condition for acquiring mortgages. The high rates of mortgages only lead to the decline in the refinancing activity, which is crucially required for the recovery of the industry. As a result the efforts of the recovery should focus on increasing the refinance activity in the mortgage industry in order to help the industry recover and reestablish itself as a positive contributor to the economy.
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