Economic Crash in Oregon Boomtown, By Adams Brookes, BBC, News, Bend,
According to the article, Bend Oregon was a 21st American Boomtown was initially a beautiful place and was located in the high desert of central Oregon, in the Amid mountains. The place looks beautiful with all sorts of business ranging from supermarkets and the roads full of vehicles. All this is attributed to the successful men and women and business planners. As part of the development a boom house is also constructed which is aimed at holding the tourists during their during their tour to the country. Most of the peoples sleep in the vehicles and others outside the supermarket s as they are homeless and all this has been caused by unemployment.
The article has depicted Bend as a boom town characterized by numerous houses, high population of approximately 65% in a period of 20 years and this rose to about 80% and the high percentage is mostly depicted in the year 2005 where around 700 houses are built each month.market.Abruptly everything is brought to an end by the market crush. This has lead to all those who were being involved in building houses being thrown out. The article also affirms that all those people who were working in the manufacturing industries making doors, Floors and window frames have also been thrown out of the work. Also the people who were eager processing their applications in the city governments with an aim of planning for new city roads and sewerages were dismissed.
Those who were working in restaurants and high dressing salons are also fired .The Bend town which was at the boom had crushed to a value of 40% within two years and their was an enormous spike in the level of unemployment from about 4% in the year 2007 to 15%.in year 2009.Everything that Bend produced was on the basis of credit and therefore to get the substitutes people had to produce more than they could consume.
This has dried up everything that was happening in the Bend town making it to be worst affected town in the United States of America. In the United States when you lose a job the government offers a financial aid for around six months but for an unemployed person in Benda one gets benefits for period of time but the benefit is terminated when the other people from Benda happens to know about it. In essence, being unemployed in Benda means lose of wealth and value in the society. It also means the beginning of life tragedies.
Is the Economy of Our Country Improving or Worsening?
According tom the article above it is very devastating that the economy is not improving. This may be endorsed by the writer of the article when he accounted that it is very clear that the housing markets will never reappear again. It has also been affirmed by the author that this is the moment that the United States of America has recorded the highest unemployment rate. This is a clear indication that the economy of the country is worsening as time goes. Another indicating factor that has endorsed the idea is that, all the shops and restaurants that used to be aligned on the Streets are nowhere to be seen.
This means that they may take along time before they are restructured which accelerates the rate of unemployment. Economic downfall has also been indicated by the fact that in Benda town people are living a total of three in one household because no one is able to live on his or her own. In addition, the economy downfall is accelerated by the fact that those people who were at the top of the hill have fallen to the bottom with no hope of regaining their normal positions in life.