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There are many contributing factors that cause the subprime mortgage crisis: slump of the housing market, role of borrowers, role of financial institutions, etc. The most visible of them all is the housing market crisis. Unable to pay mortgages, millions of borrowersвЂ™ houses face repossession. Part of the cause of the housing crisis is consumerism. Elevated by yours truly, President George W. Bush who ask American to spend more to get out of economic slowdown. Another problem includes over building during economic boom period, this creates surplus supply that many homeowners are not willing to sell at a lower market prices.
Is it worth leaving the field that I’ve already invested so much in? What about jobs or programs that offer loan repayment? Unfortunately, many of these jobs (for example, some federal ones) are very difficult to get (I’ve tried and am still trying), and many programs (such as Peace Corps) aren’t worth the cut in income. I also worked for a for-profit contractor for part of my time at NIH, so several years of my time there don’t count toward the public service loan forgiveness program. Can I transition to a career that makes more money but is stable and reliable? How do I stay nimble in this economy when education is so expensive but so essential? Will I ever be able to afford a family?