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Dolores, Regine Marie English 1301 Section 97762 Mon. –Wed. 5:30-7:00 Professor Jeannine Horn

Dolores, Regine Marie English 1301 Section 97762 Mon. –Wed. 5:30-7:00 Professor Jeannine Horn. Why Middle Class Families Go BROKE?. or. Bidding WAR. Over Consumption Myth. The TWIN GODS:. SAFETY AND EDUCATION.

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Dolores, Regine Marie English 1301 Section 97762 Mon. –Wed. 5:30-7:00 Professor Jeannine Horn

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  1. Dolores, Regine Marie English 1301 Section 97762 Mon. –Wed. 5:30-7:00 Professor Jeannine Horn

  2. Why Middle Class Families Go BROKE? or Bidding WAR Over Consumption Myth The TWIN GODS: SAFETY AND EDUCATION It is not the Over Consumption that makes families go broke, but it is actually because of the family wanting to purchase a nice house, in a good community.

  3. One Earner FamiLy “A generation ago (and even today), the typical one-earner family usually described the father as responsible for the economic health of the family, with the mother assigned to roles such as homemaker or helpmate.” VS Because they have two full incomes that help buffer them against the terrible wrenches of a changing economy, they do not feel the gut-wrenching vulnerability of standing at the edge of a precipice, ready at any second to topple off the cliff if a company downsizes or relocates. The dual earner family offers economic stability, protection against financial disaster.” – She Works/He works: How Two Income Families Are Happier, Healthier, and Better Off Two-Income Family

  4. ------ ------ A SUBPRIME MORTGAGE is a type of loan granted to individuals with poor credit histories (often below 600), who, as a result of their deficient credit ratings, would not be able to qualify for conventional mortgages. Because sub prime borrowers present a higher risk for lenders, sub prime mortgages charge interest rates above the prime lending rate.

  5. - I definitely agree with the authors on the reasons that they have presented as to why MIDDLE CLASS families are in a financial disaster. They have given statistics to prove their point.. I think that they had presented the book very well, since they are middle-class families themselves. Elizabeth Warren & Amelia Warren Tyagi The authors are saying that mainly, big purchases, especially the house purchase, is taking almost 75% of the family’s income, leaving the family struggling for everyday expenses. Before, a family could live with just one income, but since people think that the dual-earner family offers economic stability and protectionfrom financial disaster, they send the wives to the workforce. Another fact they point out is that people that are already in financial distress, are offered a “sub prime mortgage” by lenders so that they will be able to purchase a $175,000 house. By the end of 30 years, they will pay $420,000 with 15.6% interest.

  6. The Two-Income Trap How important is this book for middle-class Americans and me?

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