Word: affordability
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Dates: during 2000-2009
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...during tough times as they look to save a few bucks. But dentists pick up even more revenue later on. Patients who've skipped checkups now have achy teeth and have no choice but to undergo a more expensive procedure. "It's human nature to say, 'I can't afford that right now, and if it doesn't hurt, I don't have a problem,'" says Dr. Lawrence Spindel, a dentist in New York City. "Then all of a sudden you need a root canal...
...crafting the plan, policymakers had to walk a fine line between helping borrowers who have been caught off guard by tricky mortgage products and falling house prices and those who simply made imprudent decisions and genuinely can't afford their homes. In order to avoid propping up the second group, Treasury won't subsidize loan modifications that reduce the interest rate below 2%. If you can't afford a 2% mortgage, in the eyes of the government, you can't afford your house. The plan also doesn't apply to investors or people with jumbo mortgages - those, historically, larger than...
...sales are falling. They will continue to drop. Consumers and businesses can't afford new computers and the old ones work so well that there is no need for upgrades. Why buy a new car when the one with 60,000 miles on it runs like...
...seems especially cruel to push foreclosures because no one wants people to lose their homes. But, at some point, the system must take into account the fact that many of these people cannot afford their houses. The irony of allowing current owners to stay where they are is that they will never really "own" a home. They will remain in houses where they are very unlikely to be able to pay off the principle. These residences will not be released into a market where prices continue to drop very rapidly because there are no government programs to keep the housing...
...spread to the rest of the body. Housing prices have to get to the bottom as fast as possible in order for buyers to enter the market of their own accord. In a economically rational market, people can then have the opportunity to own homes that they can actually afford...