Daily+Life

The daily life of many individuals was greatly impacted by the housing bubble. Many took out mortgages without paying on principal, believing that they could sell their house at the end of the mortgage and make a profit. When the housing bubble burst, however, millions of people across the country found the value of their house drop rapidly. Many of these people whose house value dropped realized they would now how trouble paying back their mortgages. Many people went into foreclosure as a result of devalued housing. Although many tried to warn of a housing bubble before the downturn, Representative Barney Frank dismissed these warnings and blocked legislation by saying that we would not see a collapse in the market.
 * media type="youtube" key="iW5qKYfqALE" height="231" width="288" align="right"Daily Life **
 * Housing Bubble **

Technology in the first decade of the twenty-first decade was becoming more wireless. Cell phones were becoming more advanced. It was not uncommon to see a cell phone that had all capabilities of a home computer. Internet was becoming more popular. The use of the internet for social networking spread across the nation. One could use a wiki to create a project, or talk with friends on the website Facebook. Music could be played through mp3 players, and mp3 files could be played through the phone. All these advances helped facilitate the increasing mobile life of America and the world.
 * Growth in Technology **

Many people were forced into joblessness as an effect of the Recession of 2007. Despite the government’s efforts, unemployment continued to climb above 10% and even reached 15%. In order to minimize the effects of the recession on the people, the government extended unemployment benefits. This, however, was not enough for those who had lost their jobs and had families to provide for.
 * Effects of the Recession **