Winners and loser of the recession
October 05 2013
Winners and Losers of the 2008 Recession
Were you affected by great recession? If your answer was “no’’ you must have been one of the winners of the recession, such as homebuyers, banks or the owner of the major corporations. In other words, most of the losers lost their job and money and even sold their homes at the wrong time. During the great recession, there are many winners and losers, so, which side were you on? The winning side or the losing side?
Homebuyers were one of the winners of the 2008 recession, during this time, numerous middle class people had some money, they knew the recession was a good investment opportunity. So they started to invest all their money on new houses with the lowest prices. Therefore, homebuyers were one of the winners of the recession.When there is a supply there will always be a demand. As the result, the home owners that sold their houses were definitely the loser in the 2008 recession, because they most likely bought their home at the highest market price when the housing market was high, however, they eventually do not have money to pay for the loans they used to buy the houses, so they were forced to sell their house or let bank take the house back, These people paid the highest market value of the house and later were forced to sell at low market value or got their homes repossessed which makes them a definite loser.
According to the home sellers, the bank were another one of the winner of the recession, they repossess a house, then they resell the home to somebody else, which they earn interests regardless the new or old owner, which makes the banks a clear winner of the situation. Consequently, the average saver is the victim and a loser of the whole misfortunate situation, they deposit money in the banks, and when the banks get shut down, they lose everything they had saved in the bank from paychecks deposited to life savings. As the newspaper has stated “major corporations and wealthy
Winners and Losers of the 2008 Recession
Were you affected by great recession? If your answer was “no’’ you must have been one of the winners of the recession, such as homebuyers, banks or the owner of the major corporations. In other words, most of the losers lost their job and money and even sold their homes at the wrong time. During the great recession, there are many winners and losers, so, which side were you on? The winning side or the losing side?
Homebuyers were one of the winners of the 2008 recession, during this time, numerous middle class people had some money, they knew the recession was a good investment opportunity. So they started to invest all their money on new houses with the lowest prices. Therefore, homebuyers were one of the winners of the recession.When there is a supply there will always be a demand. As the result, the home owners that sold their houses were definitely the loser in the 2008 recession, because they most likely bought their home at the highest market price when the housing market was high, however, they eventually do not have money to pay for the loans they used to buy the houses, so they were forced to sell their house or let bank take the house back, These people paid the highest market value of the house and later were forced to sell at low market value or got their homes repossessed which makes them a definite loser.
According to the home sellers, the bank were another one of the winner of the recession, they repossess a house, then they resell the home to somebody else, which they earn interests regardless the new or old owner, which makes the banks a clear winner of the situation. Consequently, the average saver is the victim and a loser of the whole misfortunate situation, they deposit money in the banks, and when the banks get shut down, they lose everything they had saved in the bank from paychecks deposited to life savings. As the newspaper has stated “major corporations and wealthy