Essay on How to Solve the Foreclosure Crisis: Buy American

1037 Words 5 Pages
Foreclosures are happening at an alarming rate, weakening the real estate sector of America. The general consensus is that the foreclosure crisis is linked to banks’ liberal lending practices. The government has already addressed this issue with the bank bailout and the tightening of lending practices. Despite all of these changes, foreclosures are continuing to happen. The reason for this is the rampant unemployment across America. Because of globalization and free trade, American companies have been forced to outsource to keep themselves competitive at the international level. Foreclosures are simply a step in this cyclical economic problem here in the United States.
As a Michigan-native, I have witnessed first-hand how this decision to
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Drawing on an automotive example, I have noticed that the common belief is that U.S. car brands are less reliable than foreign ones, like Toyota or Honda. That needs to change. The consumers must start to think American before they think foreign. The best way to make this happen is to make “American” a fad, just like the environmental movement. With President Obama, a beacon of hope, not to mention a trendsetter, that is a highly plausible possibility. If his family and some A-list celebrities start to endorse American products, like they have the green movement, others will follow suit. What is the point in saving the planet, if we cannot even save America first? Some might argue that there is some validity in people’s lack of faith in the quality of American products. However, if money starts funneling back into the companies’ bank accounts, they can start to pay more attention to improving their products. Furthermore, if we can get the American brand to be popular enough, people will overlook minor defects. An example of this lies in the clothing industry. People spend excess amounts of money on brand-name clothing and accessories, even if those products are not worth the money. Why? It is because they are buying the products for their name, not for their value. “American” should be the next big fashion statement.
Escalating hype for U.S. companies alone will not be enough, but it is an

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