“Every month one in two hundred homes will go into foreclosure, forcing 205,000 new families into foreclosure,” Mortgage Bankers Association. The real estate industry in the United States is going through an unfortunate crisis. There are too many foreclosed homes, which causes a variety of problems. President Obama was courageous to assume office in a time of need. 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 like a domino effect and now it's hitting the real estate sector. Our unemployment rate is around 10%. Banks are not thriving as in the past. 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 made several plans to get people back to work. Some of these, including the Civilian Conservation Corps, the Works Progress Administration, and the Public Works Administration, were successful. We could apply those same types of programs to our society today. During Roosevelt's tenure the government was very involved and held a lot of power. Even though some people were against this idea, I think giving the government a little more control would help things move forward faster and more smoothly. The President must ensure that jobless citizens return to work. It could set up work programs for citizens to plant trees, build parks, set up playgrounds, grow gardens, paint murals or even perform live performances. All of these things would not only give people jobs, but would bring people together and allow families to bond. This is one... middle of the paper... weeks ago it was down to 5%. It is currently at 5.24%, which is a big jump in just four weeks. Mortgages are given through banks, so this is money they are losing since it is 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 as so many things affect it, but fixing everything one by one will gradually help. Purchase incentives are great ideas. The $8,000 tax credit for first-time homeowners is a good start. There may be others that do not exclude current homeowners. You could pay the first few months' mortgage or provide furnished homes. President Obama is very intellectual and I think he has the ability to make wise decisions and solve our foreclosure crisis.