The Perfect Storm – The Rise and Fall of the United States Housing Market

As we approach the end of 2009 and look ahead to the coming year, we continue to keep our eyes fixated on the optimistic horizon of our financial futures hoping to dissipate the recent memories of the turbulent past. These traumatic recollections are primarily associated with the collapse of the U.S. housing market which triggered the current economic recession that our country is still desperately trying to dig itself out of. This hurricane of eroding property values started to come onto U.S. shores in the beginning of 2008 and continues to wreak havoc into this present day. Now as we look back in time today, it is almost impossible to not know someone who has not been adversely affected by the housing market meltdown in the United States.

A financial storm of this magnitude did not form overnight. There were many years of reckless spending, poor financial planning, and irresponsible lending that synergistically blended together to create this potent financial catastrophe. To simplify things however, the crux of the blame can be cast upon three equally contributing parties: greedy lenders and naive buyers. These two factors combined with a lack of financial oversight by the federal government and affiliated regulating agencies formed into what could best be described as the “perfect storm” scenario.

The initial events that set into motion the collapse of the domestic housing market began immediately following the tragic events of September 11, 2001. Just one year prior, the federal funds interest rate which establishes the baseline for lenders borrowing from one another was 6.50%. The terrorist attacks on 9/11 prompted the Federal Reserve to start slashing interest rates in fearful speculation that awful financial repercussions would quickly devastate the economy.

As the federal funds rate continued to be reduced down to 1.0% over the next two years, this provided a catalyst to home builders and developers as they increased land purchases and started massive residential and commercial housing projects. During this same time that interest rates were being reduced to historic lows, members of congress were coercing the executives overseeing the giant lending institutions such as Freddie Mac, Fannie Mae, and many others to extend their lending policies beyond their normal credit worthiness limits so that consumers who would not normally qualify for a mortgage could achieve the American dream of home ownership. To appease these new found congressional pressures, lenders soon devised up new hybrid and exotic mortgage financing schemes. These new financing options featured adjustable rate mortgages with no money down requirements, and loans that financed home loans for up to 125% of their appraised worth with the naive thought process that property values would continue to increase indefinitely into the foreseeable future.

All of these converging forces united together to form the “perfect storm” that struck the U.S. housing industry with full force beginning in 2008. Soon many of those buyers who were enticed by the attractive financing options ended up as disheveled victims similar to those homeless survivors displaced after a tragic hurricane strikes. Those teaser mortgage rates which persuaded millions of home buyers and builders to spend beyond their means would soon skyrocket upwards as the Federal Reserve began to understand what was taking place and would try to counteract the financial chaos with series of organized interest rate increases. By this time however, it was too late to escape the impending doom.

This devastating combination of greedy lenders, naive buyers, and federal regulating agency members asleep at the switch undermined the very foundation of all of the housing growth that had been constructed over the previous years. In the wake of this storm’s aftermath were especially hard hit areas such as parts of California, Florida, Nevada, and Arizona where overbuilt communities and speculation reached extreme levels.This grossly unbalanced financial leveraging scenario between the buyer with little to no equity down and the fully financed lender couldn’t last forever and it didn’t. Buyers soon wanted no part of rapidly depreciating neighborhoods and sellers flooded the market but no one would come to their rescue and many of them were forced to go belly up into foreclosures or short sales if they were so fortunate.

The rest as they say is history. A recent Zillow study of Floridian residents showed homeowners who purchased their home in the last two years ran a 77% chance of their mortgage being upside down. This is only a small fraction of the devastation that has been cast across the country. Let’s hope the worst is over.

The Essentials Of A Medical Terminology Online Course

Medical terminology is the specific language utilized by professionals in the health world. Getting an understanding of it is important if you are entertaining thoughts to enter or have a job in the medical industry which includes medical billing and coding, medical transcription or medical assistants.

As a generality, this course would furnish you with a rounded knowledge of medical terms, from word origins to their application. You will learn the correct terms, pronunciations and spelling for all of the body systems, major pathological conditions, disorders, treatments, medications, etc.

Medical terminology is a collection of medical terms to define the human body and its numerous parts, conditions and processes. The largest part of the terminology derives either from Latin or Greek. After finishing this course, you would have the knowledge to define the term’s root, suffix and prefix.

This course is suitable and relevant for non-medical professionals who want to understand health-related terminologies to pursue a specialty in the healthcare or pharmaceutical industries. It is a fast and easy path to gain knowledge of medical vocabulary and meanings which are utilized by healthcare professionals all over.

There are classroom-type courses being offered out there, yet, there are schools and institutions effectively providing medical terminology online course. Yes, you can get this course via the internet, in the comfort of your own home. Many online certificate courses are offered in partnership with famous schools, colleges, universities, and other accredited providers.

In light of advances in the medical industry and an aging populace, the healthcare field is in continuous need of health professionals, particularly those with knowledge of medical terminology that is why this would be a beneficial course for students who are thinking of working in the healthcare industry, or who have the necessity to work together with doctors and other medical professionals.

By successfully completing this course, students will be able to:

  • Define and distinguish essential word roots, prefixes, and suffixes.
  • Describe human body orientation.
  • Explain the human body condition in health and ailment.
  • Identify terms relating to the cardiovascular system.
  • Classify terms in relation to the digestive system.
  • Classify words relating to the lymphatic system.
  • Classify terminology relating to the musculoskeletal system.
  • Define words relating to the nervous system.
  • Characterize terms in relation to the respiratory system.
  • Identify words in relation to the skin and sense organs.
  • Characterize terminology in relation to the endocrine system and urinary systems.
  • Classify terminology relating to the male and female reproductive systems, and
  • Display mastery of course content at a very high level.

Providers of online medical terminology course provide different kind of courses depending on the students but it is generally catered to these types:

  • Basic (some providers term this as 101)
  • Intermediate (some providers term this as 201)
  • Comprehensive 1 & 2 (Basic+Intermediate)
  • Medical Terminology Course for Medical Coders (exclusive to medical coding industry)

If you are indeed thinking of going into the medical industry, a medical terminology online course is a sensible direction to build your foundation. It would be a perfect preparation for a highly gratifying job in the health industry.

Get a Fast Cash Sale For Your House

You are seated right there with an emergency staring right on your face and you really do not know what to do. You may have tried financial institutions but due to your current situation they will not touch you with a ten foot pole. Did you know that you can actually receive cash within one week by selling your property through a quick property sale scheme? There are business owners in the property development market who offer fast cash for any property you own such as your residential or commercial house. They will offer cash as quickly as you need it for property that is any condition fast and confidentially for cash. Fast House Sale guarantees to make you an offer that will help you sell your home quickly and without the usual stress and delays of an open market sale!

There many people just like you who were caught up between the rock and a hard place and did not know where to go with their challenges until they decided to look inwards. Your property is bought in such a short while because in the real sense, you get to exchange contracts within the first 24 hours an if all goes well you receive your money in just about 7 days. You will have avoided the long an time consuming process of selling the home conventionally and get to sort out the emergency situation that has been bugging you. The timescale will always depend on your circumstances and it will always be done to suit you. This is how people are using their assets to get themselves out of emergency situations without having to beg from friends and relatives.

So why would you opt for a quick property sale solution even in spite of the fact that you receive only up to 75% of the market value of your property. You will probably have done your mathematics and come out with that as the most viable answer in the circumstances. You may be looking to pay off debts such as those mortgage payments that are continuing to pile to an extent that your lender has threatened to repossess the house. Sometimes all you want to do is to release the equity locked up in your house in order to have financing to invest somewhere else in which case our various sale options allows you to achieve this. You may be being threatened with repossession, going through a divorce or simply looking to eliminate debt problems. When you look at the whole picture then you decide this is the way to go.

At other times it may be a property you have been waiting to sell for a long time and it has simply gotten stuck somewhere in the long processes that are usually involved. Or do you simply need to move fast chain-free? In which case, a quick property sale scheme provider will see you home and make you a guaranteed offer whereby you receive your money in days – rather than months. You will be selling your property fast without the cost of estate agents or solicitors. The only downside will be that you will have to sell your house at a discount of up to 25% give or take. Property buyers in this market do not pay 100% of the market value and for the speed that is what you must accept to lose. Please take your time to look through the internet and in the process you will get a solution that will release the cash tied down in your house sooner rather than later.