The Financial Crisis Is Forcing America To Redefine Their Values
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Death Of The American Dream? (2008): The credit crunch has hit hard middle-class America hard. Many are using at as an opportunity to re-evaluate what is important to them. For similar stories, see: On The Streets Of The Greek Financial Crisis https://www.youtube.com/watch?v=nDfOFzAKB-w Has Wall Street Created Another Housing Crisis? https://www.youtube.com/watch?v=7V1IMBzH2J8 Wage Crisis: The USA's New Underclass https://www.youtube.com/watch?v=V_3zmBUCVcI Subscribe to journeyman for daily uploads: http://www.youtube.com/journeymanpictures For downloads and more information visit: https://www.journeyman.tv/film/4190/death-of-the-american-dream Like us on Facebook: https://www.facebook.com/journeymanpictures Follow us on Twitter: https://twitter.com/JourneymanVOD https://twitter.com/JourneymanNews Follow us on Instagram: https://instagram.com/journeymanpictures The financial crisis is hitting middle-class America, as families are forced onto the streets. Some say its the end of the American dream but for others this is a chance to redefine whats important. In California, the credit crunch has had a devastating effect on families that bought expensive houses with no down payment and high interest rates. The houses wont sell and their owners are left with nothing. A growing number of people find refuge in car parks, sleeping in their vehicles until they find another job. This is the flipside of American life. No-one is looking out for you. Craig used to run a successful business but now lives in a borrowed van with his wife and two kids. Despite the setback, he isnt bitter. Life in a car park has made him redefine the American dream for himself. Now he measures abundance in personal happiness rather than material possessions: I'm less encumbered . and I become more pleased with each new step. Barbara is another casualty of the credit crunch. She lost her job as a notary and had nowhere to go. After a few months sleeping in her car, shes found housing again but the experience was an eye-opener: People who are broken by being homeless are dependent on all of their belongings and possessions as their identity. And that isn't who they are. It seems many more will have to find out for themselves. SBS Australia – Ref. 4190 Journeyman Pictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.
Comments
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These people are brainwashed: "I bought two houses for 1.3 million! Sorry gal, you didn't buy anything you fool. All you did was take on debt - far more debt than your job could sustain and that applies to thousands of idiots. Greed! That's your problem. Live according to your means you morons.
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The first woman lost both of her million dollar homes. Why does any single person need two million dollar homes? I knew a woman that worked at J.C. Penny and retired owning 7 homes. She and her husband watched their money and raised two boys. They bought a home and I think rented out part of it. With that money plus their own they bought another rental house. Eventually they had those 7 houses. If you are going to buy a house, buy one that you can rent out part of it to make money. When you get it paid off, buy a house for yourself and rent out the two flats in your first house. With that money buy more houses to rent. That is how rich people get rich. Poor people buy a big house and fill the garage with a boat and ATV's as well as a nice garden tractor to mow the lawn. Then they wonder why they are broke.
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I have 4 older brothers and 4 older sisters. All of them have jobs. But after I graduated from college I lived in my car for 7 months. I knew I couldn't ask them for help, mostly out of shame and I wanted to appear independent and self sufficient but also because I knew they had their own problems to deal with. When you're in trouble no one can help you, you're on your own. I was able to get out of it because I'm young. But for older folks it's just too much to bare. God help us all.
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How old is this video???
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When looking for a house to buy go way below the price you are told you can afford. Because most people think they can afford a house because the bank tells them they can. But take into consideration upkeep, furniture, lawn care, automobiles, food, hair, teeth, healthcare, pets, clothes, prescriptions - you've got to have money left over to pay for these things after you pay your mortgage payment. If you don't have money left over DO NOT BUY A HOUSE. You can't afford it.
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I wish I could have afforded to buy a house in CA in 2008. Would have been a sweet return.
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Doesnt make me want to cry makes me happy! These fucks should lose every penny! They didnt pay taxes like they should have and now the piper is here to be paid bitches!
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Nancy Cap make $175,000 per year in salary.
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While I 100% support her and those who are living in the parking lots, I also believe that she should have lost the home because her willingness to pay $1.2 million dollars for HOMES ...normal homes,,, is the problem. There are hundreds of millions of acres of land that the federal government owns that would allow the real estate to be priced correctly. Can you imagine the folly of paying $1.2 million dollars for normal living quarters? Insanity. She deserves it and so does EVERYBODY that has contributed. "Life coach"...is that a job? Really? Great Coaching life coach boy!
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She overextended herself to keep up with the Jones, like everyone here in California, look at the car she drivers.
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I've lived in uk for a long time and can tell you that there has been a recession every ten years or so
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Stay positive and strong everyone. Have you heard of Nesara, Gesara, SwissIndo?, Karen Hudes is working hard with the Global Debt Facility for all people on Earth. Much love to all people in America now!, & around the world. We will succeed with putting every single thing right on Earth, once again!, we are one big Earth Family now, don't listen to any lies, Heaven is already here now, follow your beautiful bright divine heart's please, to the great people of the entire world now!. I am with you all the way back to sanity and freedom for all people & abundance for every single human being without the lies or tricks, ever again from the corrupt pirates trying desperately to steal worldwide from everyone on Earth.
Game over now forever for the pirates.
The people of entire world now, have had enough of this unnecessary suffering, forever!!!. -
hippie tree hugger belly achey
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Property taxes are now so high in parts of Dallas, TX that many cannot afford that. Even if their homes are paid off.
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thank you so very much wall street!
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Ha, ha, ha. Does anyone remember "the end of history" ? When Neoliberalism had won ? Communism was dead ?
Bad karma came back on the Americans. Reminds me of Russia in the 1990's. -
your problem is folks you put high number value on houses and land and you over valued it over and over took something real value 100k boosted it to 1 mil then 2mil hyperinflated everything to the point nobody can pay for it greedy spiral now its over
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State of the Union Obama said anyone telling you the economy isnt healthy they are peddling fiction... I believe what i see in this documentary.
12m 48sLenght
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