...of the line in the political issues face by the Californian government. Basically the non-profit organizations focused on improving the life quality of the people in the city, especially those who did not have a place to spend their nights. It is a fact that there should be some very efficient approach to eliminate this homelessness problem, the Californian government has taken some steps and brought in a modest change in their policies to attack this homelessness problem very obviously. Their main change in the policy was to provide housing to the poor and the needy people (Hombs, Mary Ellen, and Mitch Snyder, 1982). Despite this action which the government took, there had been a consensus in the year 1980 which reflected the fact that the homelessness in US and in California have been substantially increasing in the year. Social scientists (Jencks, 1994), after conducting a huge survey, came to a conclusion that the ability to afford housing had less influence in the homelessness than the mental illness resulting from the increase in the use of drugs. Discussion O’Flaherty (1996) has been questioning various conventions. There had been 3...
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...The Investment Appeal of Low Income Housing Tax Credits Overview of the LIHTC The Low Income Housing Tax Credit (LIHTC) provides incentives for corporations and individuals to invest in the acquisition, development and rehabilitation of affordable housing. The program offers federal tax credits to private equity investors that work with profit or non-profit developers in constructing or renovating rental properties for low-income tenants, those who earn 60 percent or less of the median family income for their county. As of 2010, the program has sparked the construction of over 1.7 million housing units throughout the country. The IRS allocates federal tax credits to Housing Credit Agencies (HCAs) in each state based on its population. HCAs award credits to housing developers based on their Qualified Allocation Plan (QAP), a rigorous and competitive application used to determine which developers will receive the credits. Once credits are acquired, equity investors purchase an interest in the business entity generating the tax credits, namely a limited partnership or limited liability company. The equity generated from the investor’s purchase is used to fund the property development. The tax credits are redeemed annually by investors over a ten-year period following the date that the property becomes operational, or “placed in service.” The number of tax credits, and subsequently the amount of equity raised, is calculated by computing the eligible basis, or the dollar amount...
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...need for early learning opportunities for children of low income families caused by the lack of funding and limited centers with proper accreditation. Children in Collier County need to participate in Early Childhood Education in order to be ready for kindergarten and have a foundation for their education career. There should be more regulations for early learning centers that want to open up their doors to ensure the quality of the education programs provided to make sure they are teaching the children correctly. A publication by The Early Learning Coalition states that 89% of early learning centers in Collier County are not accredited, Early Learning Coalition of Collier, Glades, Hendry, and Lee Counties & Childcare of Southwest Florida, Inc. (2005). Ft. Myers, Fl. The centers should be observed, and children should be tested to make sure they are learning. Homelessness is another issue that is underway to get resolved since it is bringing a negative impact to the county. Collier County has many programs to help the children and even though they are not able to cover what every child needs they are working hard to meet the needs of the children they serve. Hopefully some agencies will begin fundraising to cover some of the costs to help the children in need. In Golden Gate City 12.5 percentage of families only speaks Spanish and no English at all. Another problem that is affecting Collier County is the housing crisis causing a growing negative impact on Collier’s...
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...“quotes”) Interview with Jane Doe PRRAC Board member since 2008 June 12, 2012 1. What has been your interaction/knowledge of PRRAC? Totally revitalized since I joined when it, when it was on verge on closing. Before on the board, didn't know what PRRAC did in advocacy space, but impressed by the newsletter and intersection of race and poverty (structural inequality); and bringing together R&P people was a good and important vision. I'm engaged in complexity of social science and how it can make us rethink law and poverty. Thought more was intellectual convening project to bring SS to civil rights and poverty lawyers. 2. Strengths? Some areas that PRRAC must develop more, but new E.D. tightened the advocacy focus esp on housing and segregation. Org was in dire straits. Like the current emphasis on structural inequality and segregation. 3. Weaknesses? Must get broader than that if wants to stay relevant. Should be addressing 1/ employment and economic front (job opportunities closed to minority; school to work transitions. Thinking about pathways for working class people not on college path. Don't see other orgs doing that. 2/ perhaps too black focused. Must ensure we're speaking to the fact that country is far more diverse? Don't think the focus is intentional, but it's the paradigm where it ends up. Phil comes from NE, where situation is dire. Elsewhere, more about Latinos . . . need to tease out remedies for diff groups. Don't think...
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...Credit Crunch and Recent Global Financial Crisis International Finance 6BUS0226 Lecturer: Arjuna Kanakaratnam Submission Date: 9th April 2012 Level 6 Business Administration Zhaoju Liu | 11722622 | Word Count: 1885 I. Introduction The global financial crisis brings the whole world negative consequences. According to many scholars, it is the worst economic recession since The Great Depression in 1930s. The world economy confronts meltdown. Numerous enterprises have been affected seriously. So do the global financial markets. This essay is to discuss the reasons and impacts of the crisis as well as demonstrate the government responses. Furthermore, some lessons from the recession will be delivered at the end of the essay. It is very important to make clear of the crisis and integrate the financial theories with practice. II. Discussion The probable reason of the current financial crisis is recognised as the sub-prime mortgage segment of the USA for which were the results of long times of exceptionally loose monetary policy of some developed economies during the early period of last ten years (Mohan, 2009). After the internet bubble broken in the US more than ten years ago, most of the developed economies especially the US extremely eased the monetary policy. Only one percent of the Policy Rate had been announced in the summer of 2003 in the US (Mohan, 2009). This policy lasted for a long period and consequently stimulated the housing bubble of the America...
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...become aware of a global problem or crisis. Poverty is defined as two meanings;Absolute poverty; when a persons income is so low that they cannot afford the basic essentials for living.Relative poverty where there income is well below the national average of living usually around £15,000 pounds a year(gcse sociology ). Child poverty has become a significant issue in the UK. Its definition itself has become quite controversial. This essay will use the definition set by the government. Labour has defined child poverty as any child living in a household with below 60% of average income after housing. (www.society.guardian.co.uk) It has grown substantially in the 1980s and 1990s. The recent increase in child poverty is particularly a British phenomenon. According to figures, the level of child poverty in the UK is very high . Child poverty affects 3.5 million children in the UK. Inner city areas of London, Manchester, Leicester, and Glasgow are among the worst hit areas in the United Kingdom. Many people fail to recognise that here in the UK, that the main causes of child poverty are by issues surrounding the household. The highest affected Those in high unemployment and on low incomes Lone parents with two or more children in the household The essay will try to explain the causes such as unemployment, family structure, marital status, ethnicity, housing...
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...A New House-Decision Coretta Charles Axia College of University of Phoenix July 3 2010 There are many advantages that come with purchasing a home, but before you take that leap there are many economic condition that one must consider before making that financial decision. In this essay we will look at the market structure, marginal benefit, and marginal cost associated with the purchase of a new home. Purchasing a new home can be an exciting experience that comes with great benefits. The thought of owning your own home and not throwing your money away on renting is a thought that brings a smile to my face, a place where my family and I can call home, and a place where my kids can play on their swing in the backyard and have lots of fun. I would like to look for a house that is close to my work place with a good school system and a location that has ample amount of places to shop. But before I start to look at a preferred location for my new house I have to look at my finances. I have to find a house that is affordable for me, one that fits into my budget as well as have all the benefits that I’m looking for. Though deciding to purchase a home is exciting, it is a huge financial decision and looking at my finances there are something’s I will have to give up or cut down on in order to get the size of the house I need for my family, in the principal of economics this is called “Tradeoff” giving up something to obtain something else of a greater value. Sure, if anyone...
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...Coalition Cuts: “Tough But Fair” Immediately as I write this essay Britain’s national debt stands at around £946,319, 240,034, 83.7% debt to GDP ratio whilst the US has a national debt of over $13,492,377,103,199. ‘Thanks to Mr Osborne, Britain now has the earliest, most aggressive programme to cut government borrowing in the G7, despite widespread fears about the strength of the UK and global recovery’ (Flanders, 2010). In this essay I will focus on Britain’s budget deficit, in particular the Emergency Budget, presenting various topics for debate in relation to different aspects of the budget. I will further expand into broader topics such as the recession as a whole, the previous Labour government, other countries situations and subsequent response and the theory behind the policies undertaken, whether driven by political or economic incentives for example. Throughout the essay I will attempt to present ideas in a balanced approach, clearly showing the difference between positive and normative statements. An economies growth rate fluctuates over a period of time, known as the economic cycle. It shows the changes over time in the macro economy such as a recession where growth falls below the trend growth rate: a negative output gap. Such events are cyclical and the general period of time between one boom and another is usually five to eight years (Peter Cramp, Informe). Gordon Brown was keen to avoid successive budget deficits...
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...Expository Essay COM/150 – Essay Writing 02/22/2013 Jennifer Preus Have you or a loved one recently lost your job? Have you found yourself wondering how you’re going to pay rent or a mortgage payment this month? Have you had to rely on outside sources to help supplement your food and utility expenses? In 2012, over 5.4 million workers left the job market entirely (Folks, 2013) and are now facing housing crises. As the demand for affordable housing continues to grow as adults are unable to find work, many Americans are facing homelessness and have no affordable housing available to them. All across America, more people are finding themselves homeless. Whether in big cities or small urban towns, the homeless rate continues to grow as the inability to pay for affordable housing grows. The number of people paying more than fifty percent (50%) of their income toward rent increased by more than six percent (6%) from 2009 to 2010. The United States Housing and Urban Development (HUD) classify those paying that high of a percentage as “severely housing cost burdened”. In a survey conducted by the Low Income Housing Information Service, more than 17.6 million households with children experience at least one major housing problem, meaning that one out of every two households with children in this country experience an issue with housing (Kaufman, 2013). Per The National Alliance to End Homelessness (2012) the national rate of homelessness was 21 homeless people per 10,000...
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...Explain the term “credit crunch” and how it has developed. Discuss the implications for UK Small and Medium Enterprises (SMEs). This essay will look at explaining the term credit crunch, as to what it means and how it has been applied to within the global economy. More so the essay will cover how the credit crunch of 2007 has developed over time, with the key aspect of the US housing market developing to then impact other countries, such as the UK economy. The essay will discuss the implications on UK small and medium enterprises. One of the key issues which will be discussed as to the implication of the credit crunch, is the availability of finance to SMEs. More so other non direct aspects which have which act as implications will too be discussed. The credit crunch has been defined as a shortage of money or loans as well as other types of credit given by banks. In short the BBC defined the credit crunch as “a severe shortage of money or credit” BBC: Timeline: Credit crunch to downturn (2009) It describes the economic condition of an economy. In most situations, when an economy has been in a credit crunch, the economic condition of a country is unstable or also known as a financial crisis. As the Guardian states, “the current global financial crisis is commonly known as the credit crunch.” Kollewe (2008) Credit crunch’s can occur mostly when an economy is in a recession, a time when the economy is declining during which the there is fall in gross domestic product (GDP). ...
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...China’s real estate bubble burst? Since the onset of the global financial crisis in 2007, China has faced some critical problems linked with the excess of liquidity in its internal market, due to the stimulus plan launched by the Government to soften the effects of the crisis. As a result China is now fighting against a high rate of inflation (especially food prices) and a high cost of property. While the inflation issue has been partially solved in the first term of this year, the fear for the real-estate market trend is still alive. This essay aims to critically analyse the real estate market in China, which is also strictly linked with the health of this country’s economy, by examining this issue from two different perspectives: from the point of view of those scholars who believe that the Chinese bubble will burst and from the point of view of those who believe that the Chinese market is still safe. First of all the essay will give the historical and economic background of the price rises in the Chinese real estate market, from the birth of this important economic sector to the global financial crisis. Secondly, in the core part, this paper will explain the main theory regarding the possibility of the real estate bubble burst and the counter argument. To better understand the actual situation in China there will be also a short comparison with the burst of the American bubble in 2007. In the conclusive paragraph some predictions will be made according to what has...
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...Table of content I. Introduction to credit crisis and Bank CEO Incentives…………………….2 II. Other factors of credit crisis………………………………………………3-4 a) Housing bubble b) Interest rate and inflation c) Unemployment III. Conclusion…………………………………………………………………..5 IV. References……………………………………………………………………6 In my following essay, I will try to explain clearly about credit crisis and Incеntivеs оf Bаnk Chiеf Exеcutive officеrs are nоt mаjоr fаctоr in crеdit slump. At first, lets to еxplаin what are сredit сrisis and its rоle in еcоnоmy. Making a hard to obtain financing to debtors by shortening of funds in the credit market is called as credit crisis. It is because of limited assets obtainable for lending and the price for assets for borrowing are increases so fast. Creditors don’t want or can not to lend an asset again, because they meet to losses on previous loans. This is caused by non-payment by debtors and defaults on loans, which decreases their value. In this situation, banks are trying to recover expenses and to return all money that they lost by selling debt. Then, if prices fall, the bank suffers losses. They cannot borrow a huge amount of funds if capital reduces. Also, if the banks take on more risk in the market, they will increase interest rates on loans to reward for this risk. It will bring to increasing the price of borrowing, but also will bring to decreasing the borrowers. In general, reducing the liquidity of capital and reducing...
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...TMA 2 – Part A: Question 1: 1. 1700x12=£20400 16827/12=£1402.25 1700/100=17x2=34+1700=£1734 1734x12=£20808 17104/12=£1425.33 1402.25x6=£8413.50 1425.33x6=£8551.98+£8413.50=£16965.48/12=£1413.79. Piper’s average net monthly income over one year would be £1413.79. 2. Net income Average month £ per month. Earnings: 1413.79 Total net income: 1413.79 Rent 700.00 Council tax 91.67 Utility bills 73.34 Food 433.34 Leisure and gifts 70.00 Transport 86.67 Total Expenditure: 1455.02 Surplus/deficit: -41.23 Currently she wouldn’t be able to purchase her laptop as she has a deficit of £41.23 per month. 91.67+73.34+86.67+700...
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...their money where others put theirs. Second is an apparent lack of understanding on the relationship between risk and returns. Third is an apparent lack of appreciation for the principles of supply and demand. The principle states that excessive supply will reduce the price and demand for a product to the advantage of the buyer, while a lack of supply will increase demand and price of a product to the advantage of the seller. Causes Economists stress the importance of tracing the root causes of the financial crisis in order to provide a systemic solution to the present financial crisis. Most references present the cause of the financial crisis to be the “subprime mortgages.” However, subprime mortgages by itself did not cause the housing bubble to implode; many other factors contributed to the implosion. Traditionally, a lending institution, such as bank, would grant a loan based on the capability of the borrower to pay and on his/her ability to guarantee the loan with a fixed asset or collateral. The borrower mortgages the fixed asset to the lending entity, who in turn gains the right to “foreclose” a mortgaged asset and to...
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...Table of Contents EXECUTIVE SUMMARY 2 INTRODUCTION 3 AN OVERVIEW OF THE CURRENT ECONOMY IN VIETNAM 3 THE CURRENT SITUATION OF REAL ESTATE MARKET 4 HOANG ANH GIA LAI GROUP F HAGL 7 HAGL S HISTORICAL CREDIT 11 THE NEXT HAGL S PLAN 12 THE MAJOR RISK WHICH HAGL HAS BEEN FACING 14 AN ANALYSIS ON KEY FINANCIALS 15 PROJECTION 20 RECOMMENDATION 20 WORKS CITED 22 Executive summary In this report, our team as a representative for ERC bank located in HCM city conducts a credit analysis about Hoang Anh Gia Lai group in order to consider their loan application with US$ 500,000 based on overview of HAGL s current activities and current economy conditions, especially in the property market and also the purpose of borrowing money. Plus, we also do a deep analysis on key financials to evaluate the past 3 years performances of this company. At the end, we will make recommendation. Firstly, we provides an overview of the current economy in Vietnam recently where more and more people are getting into middle class and the recovery of the economy is appearing more clearly. As a result, with easing the monetary policies and supporting for the end home users, they are good responses for property market to break the freezing situation. Secondly, there is an overview of HAGL s activities which they have currently launched 10 potential projects providing more than 900 luxury apartments and they also are offering 2 new options for the consumers in...
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