Essay heading: 2007 Housing Slump

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Social Issues

 

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May 21, 1999

 

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According to Dale Kasler of the Sacramento Bee, the escalation can be assigned to the construction industry losing 7,800 jobs in a month. At the same time as unemployment fears rise, inflation is also making an impact on our economy. Inflation refers to the increase in prices either due to an increase in monetary volume or a decrease in the value of the nationís currency...
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The value of the United States dollar is dropping at a surprising rate and oil prices are increasing to over $95 a barrel. Due to this decline in worth, the economic income of the nation has also dwindled, which in turn affects our ability to consume. With a lower economic income, it is less likely for families to purchase homes, which is a huge investment, when they can simply rent...
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