“One in two hundred homes will be foreclosed on each month, leading to 205,000 new families going into foreclosure,” Mortgage Bankers Association. The U.S. housing industry is going through an unfortunate crisis. There are far too many homes being foreclosed on, leading to a series of problems. President Obama had the courage to take office at a difficult time. Creating plans like the Recovery Act is a great start to solving this problem. Unfortunately, there is still a long way to go to see the light on the other side. First, the U.S. economy, in general, needs to improve. The economy is working like a domino effect, and it is now hitting the housing sector. Our unemployment rate is around 10%. Banks are no longer thriving like they used to. Tons of Americans are in debt; By the end of 2008, Americans had reached $972.73 billion in credit card debt. In the 1930s, President Roosevelt outlined several plans to put people back to work. Some of them, including Civilian Conservation Corps, Works Progress Administration, and Public Works Administration, have been successful. We could apply these same types of programs to our society today. During Roosevelt's term, the government was very involved and had a lot of power. Although some were against the idea, I think giving the government a little more control would make things happen faster and easier. The president must put unemployed citizens back to work. It could establish work programs that allow citizens to plant trees, build parks, lay out playgrounds, cultivate gardens, paint murals or even stage live performances. All of these things would not only give people jobs, but they would bring people together and allow families to bond. It's an o...... middle of paper...... a few weeks ago it was down to 5%. It is now currently at 5.24%, which is a considerable jump from just four weeks ago. Mortgages are made by banks, so that's money they're losing since it's so low right now. Credit card interest rates need to come down so mortgages can get back to where they were. It's more expensive for people, but it would make up for the credit cards. The foreclosure crisis has no simple solution because so many things affect it, but addressing each thing one by one will gradually help. Incentives to purchase are fantastic ideas. The $8,000 tax credit for new homeowners is a good start. There could be others that do not exclude the current owners. The first months mortgage could be paid or provide furnished houses. President Obama is very intellectual and I believe he has the ability to make sound decisions and solve our foreclosure crisis..