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A keystone editorial entitled “This Year’s Housing Crisis” appeared on the New York Times website on January the 5th of 2010. The editorial discusses the issue of mortgage prices and how the federal government will affect homeowners and lenders in the coming months. 16 million America’s could face foreclosure on their homes due to a diminished economy and little help from the government this year. After analyzing this editorial using the eight evaluating criteria, it is clear that “This Year’s Housing Crisis” is an effective editorial.
“This Year’s Housing Crisis” may be categorized as a substantiation editorial. Typically substantiation editorials explain to the reader why or how something has happened. “This Year’s Housing Crisis” may be considered a substantiation editorial because it describes the current housing situation to be one that is ongoing and needs to be solved now. The keystone addresses the White House and housing lenders, offering a helping hand as to what needs to be addressed and how to fix the issues. How to fix the crisis however, is debatable.
People are still in the debate stage of the issue and many are arguing about what needs to be done to resolve the mortgage crisis. Public concern for the housing crisis is a very important issue in the United States. Steps to solving the problem are said to be to reduce principal balances, minimize monthly payments, and rebuild equity. Because the author states, “…housing appears to be weakening anew” this piece clearly has an orthodox outlook. Many people share similar beliefs with the New York Times and their statements made in this editorial.
The staff of the New York Times is reaching out to the White House and Congress, they are also reaching out to lenders. They want the White House to modify loans and make job creation a priority. They urge lenders to reduce principal balances, which in return will lower monthly payments and restore equity. Lenders have been refusing to do so...