--- title: "Meaning & Key Takeaway of: Almost a decade removed from the…" description: "\"Almost a decade removed from the foreclosure crisis that began in 2008, the nation is facing one of the worst affordable-housing shortages in generatio..." image: "https://sms4smile.com/quotes/i/a9d/matthew-desmond-1529_crisis_almost-a-decade-removed-from-the-foreclo_2137464.jpg" --- # Almost a decade removed from the foreclosure crisis that… ![“Almost a decade removed from the foreclosure crisis that began in 2008, the nation is facing one of the worst affordable-housing shortages in generations.” quote by Matthew Desmond](https://sms4smile.com/quotes/i/a9d/matthew-desmond-1529_crisis_almost-a-decade-removed-from-the-foreclo_2137464.jpg) [Download](https://sms4smile.com/quotes/i/a9d/matthew-desmond-1529_crisis_almost-a-decade-removed-from-the-foreclo_2137464.jpg) [Open image](https://sms4smile.com/quotes/i/a9d/matthew-desmond-1529_crisis_almost-a-decade-removed-from-the-foreclo_2137464.jpg) > “Almost a decade removed from the foreclosure crisis that began in 2008, the nation is facing one of the worst affordable-housing shortages in generations.” [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The quote underscores the severe shortage of affordable housing, a crisis rooted in systemic economic failures. **In simple terms:** Housing shortage is a major crisis. Key Takeaway Advocate for policies that expand affordable housing. Themes housing economics policy inequality Mood urgent concerned Type policy social When to use this quote - legislative advocacy - community organizing - financial planning - social services Key Concepts affordable housing crisis systemic inequality urban planning Questions to Reflect On - What policies could most effectively increase affordable housing? - How can communities mobilize for change? A Different Perspective Solutions require long‑term investment and political will. ★ ★ ★ ★ ★ No ratings yet [Crisis](https://sms4smile.com/quotes/about/crisis/) [Foreclosure](https://sms4smile.com/quotes/about/foreclosure/) [Nation](https://sms4smile.com/quotes/about/nation/) [Shortages](https://sms4smile.com/quotes/about/shortages/) ## Related quotes > [Gentrification and housing shortages are complex issues.](https://sms4smile.com/quotes/sarah-jeong/gentrification-and-housing-shortages-are-complex-issues/) [Sarah Jeong](https://sms4smile.com/quotes/author/sarah-jeong/) > [Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the…](https://sms4smile.com/quotes/mark-zandi/indeed-the-fha-was-born-out-of-the-great-depression-which-was-also/) [Mark Zandi](https://sms4smile.com/quotes/author/mark-zandi/) > [The newest victims of the nation's foreclosure crisis are pets, which is extremely distressing to me.](https://sms4smile.com/quotes/margaret-cho/the-newest-victims-of-the-nation-s-foreclosure-crisis-are-pets-which/) [Margaret Cho](https://sms4smile.com/quotes/author/margaret-cho/) > [I think it is important also to recognize that our Customs border protection officers who secure our borders and conduct inspections of people in…](https://sms4smile.com/quotes/kendrick-meek/i-think-it-is-important-also-to-recognize-that-our-customs-border/) [Kendrick Meek](https://sms4smile.com/quotes/author/kendrick-meek/) > [In the press, it has been said that I ran a foreclosure machine.](https://sms4smile.com/quotes/steve-mnuchin/in-the-press-it-has-been-said-that-i-ran-a-foreclosure-machine/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [Foreclosure is nothing new. And it certainly will always be a fact of life for some.](https://sms4smile.com/quotes/lisa-madigan/foreclosure-is-nothing-new-and-it-certainly-will-always-be-a-fact-of/) [Lisa Madigan](https://sms4smile.com/quotes/author/lisa-madigan/) > [After the risky mortgage-lending practices fostered by government intervention led to massive defaults and foreclosures that caused financial institutions to collapse or be bailed…](https://sms4smile.com/quotes/thomas-sowell/after-the-risky-mortgage-lending-practices-fostered-by-government/) [Thomas Sowell](https://sms4smile.com/quotes/author/thomas-sowell/) > [While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.](https://sms4smile.com/quotes/ben-bernanke/while-rising-delinquencies-and-foreclosures-will-continue-to-weigh/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [People want what they want. And I guess that is a reason we have this big credit card problem and a lot of these…](https://sms4smile.com/quotes/chris-rock/people-want-what-they-want-and-i-guess-that-is-a-reason-we-have-this/) [Chris Rock](https://sms4smile.com/quotes/author/chris-rock/) > [African Americans, in particular, saw their cumulative wealth crash. They used to have 10 cents on the dollar of the average white family. That…](https://sms4smile.com/quotes/jill-stein/african-americans-in-particular-saw-their-cumulative-wealth-crash/) [Jill Stein](https://sms4smile.com/quotes/author/jill-stein/) > [Today's misery is real unemployment, home foreclosures and bankruptcies. This is the Obama Misery Index - and it's at a record high. It's going…](https://sms4smile.com/quotes/mitt-romney/today-s-misery-is-real-unemployment-home-foreclosures-and/) [Mitt Romney](https://sms4smile.com/quotes/author/mitt-romney/) > [Foreclosure is to no one's benefit. I've heard estimates that mortgage investors lose 40 to 50 percent on their investment if it goes into foreclosure.](https://sms4smile.com/quotes/henry-paulson/foreclosure-is-to-no-one-s-benefit-i-ve-heard-estimates-that-mortgage/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [If home ownership is the American dream, then foreclosure certainly is the American nightmare. It destroys more than credit. It destroys lives. And its…](https://sms4smile.com/quotes/lisa-madigan/if-home-ownership-is-the-american-dream-then-foreclosure-certainly-is/) [Lisa Madigan](https://sms4smile.com/quotes/author/lisa-madigan/) > [Consumers going through foreclosure typically will see their credit scores drop, raising longer-term questions about their ability to rebound financially and perhaps pursue a…](https://sms4smile.com/quotes/ben-bernanke/consumers-going-through-foreclosure-typically-will-see-their-credit/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority…](https://sms4smile.com/quotes/alan-greenspan/a-decline-in-the-national-housing-price-level-would-need-to-be/) [Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/) ## More by Matthew Desmond > [I don't think we can fix poverty without fixing housing, and I don't think we can address housing without understanding landlords.](https://sms4smile.com/quotes/matthew-desmond/i-don-t-think-we-can-fix-poverty-without-fixing-housing-and-i-don-t/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [If we continue to tolerate this level of poverty in our cities, and go along with eviction as commonplace in poor neighborhoods, it's not…](https://sms4smile.com/quotes/matthew-desmond/if-we-continue-to-tolerate-this-level-of-poverty-in-our-cities-and-go/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [You see one eviction, and you're overcome, but then there's another one and another one and another one.](https://sms4smile.com/quotes/matthew-desmond/you-see-one-eviction-and-you-re-overcome-but-then-there-s-another-one/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [When I talk to booksellers, they tell me how hard it is to hand-sell some of my books because I do keep popping around.](https://sms4smile.com/quotes/matthew-desmond/when-i-talk-to-booksellers-they-tell-me-how-hard-it-is-to-hand-sell/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [Housing being a top-order issue for cities is something that's not trivial.](https://sms4smile.com/quotes/matthew-desmond/housing-being-a-top-order-issue-for-cities-is-something-that-s-not/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [I think that we value fairness in this country. We value equal opportunity. Without a stable home, those ideals really fall apart.](https://sms4smile.com/quotes/matthew-desmond/i-think-that-we-value-fairness-in-this-country-we-value-equal/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [Exploitation. Now, there's a word that has been scrubbed out of the poverty debate.](https://sms4smile.com/quotes/matthew-desmond/exploitation-now-there-s-a-word-that-has-been-scrubbed-out-of-the/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [I think there are ways that graduate students can fact-check their work. I think there are ways that we can do this that don't…](https://sms4smile.com/quotes/matthew-desmond/i-think-there-are-ways-that-graduate-students-can-fact-check-their/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [Fire itself is very beautiful, and there's an attachment to fire that firefighters have.](https://sms4smile.com/quotes/matthew-desmond/fire-itself-is-very-beautiful-and-there-s-an-attachment-to-fire-that/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [“Sherrena nodded reassuringly and said, almost to herself, “I guess I got to stop feeling sorry for these people because nobody is feeling sorry…](https://sms4smile.com/quotes/matthew-desmond/sherrena-nodded-reassuringly-and-said-almost-to-herself-i-guess-i-got/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [Everywhere else, we are someone else, but at home, we remove our masks.](https://sms4smile.com/quotes/matthew-desmond/everywhere-else-we-are-someone-else-but-at-home-we-remove-our-masks/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [A community that sees so clearly its own disadvantage or its own hardships also has a harder time seeing its potential: its ability to…](https://sms4smile.com/quotes/matthew-desmond/a-community-that-sees-so-clearly-its-own-disadvantage-or-its-own/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [“It was once said that the poor are 'constantly exposed to evidence of their own irrelevance.' Especially for poor African-American families - who live…](https://sms4smile.com/quotes/matthew-desmond/it-was-once-said-that-the-poor-are-constantly-exposed-to-evidence-of/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [A universal voucher program would change the face of poverty in this country.](https://sms4smile.com/quotes/matthew-desmond/a-universal-voucher-program-would-change-the-face-of-poverty-in-this/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) > [“Wildland firefighters do not enjoy the cultural prestige that structural firefighters do. They do not wax their fire engines and cruise down the local…](https://sms4smile.com/quotes/matthew-desmond/wildland-firefighters-do-not-enjoy-the-cultural-prestige-that/) [Matthew Desmond](https://sms4smile.com/quotes/author/matthew-desmond/) [Explore all 230 Matthew Desmond quotes ](https://sms4smile.com/quotes/author/matthew-desmond/) ## More Crisis quotes > [People in great groups have blinders on. Their work is all they see. They value failures as learning opportunities. They are optimistic, not realistic,…](https://sms4smile.com/quotes/warren-g-bennis/people-in-great-groups-have-blinders-on-their-work-is-all-they-see/) [Warren G. Bennis](https://sms4smile.com/quotes/author/warren-g-bennis/) > [It is proposed that a form of free dialogue may well be one of the most effective ways of investigating the crisis which faces…](https://sms4smile.com/quotes/david-bohm/it-is-proposed-that-a-form-of-free-dialogue-may-well-be-one-of-the/) [David Bohm](https://sms4smile.com/quotes/author/david-bohm/) > [The crisis of our diminishing water resources is just as severe (if less obviously immediate) as any wartime crisis we have ever faced. Our…](https://sms4smile.com/quotes/jim-wright/the-crisis-of-our-diminishing-water-resources-is-just-as-severe-if/) Jim Wright > [It is popular to call it a crisis of the Western world. It is in fact a crisis of the whole world. Communism, which…](https://sms4smile.com/quotes/whittaker-chambers/it-is-popular-to-call-it-a-crisis-of-the-western-world-it-is-in-fact/) [Whittaker Chambers](https://sms4smile.com/quotes/author/whittaker-chambers/) > [The financial crisis we are facing today arises from the fact that there is almost no more social, cultural, natural, and spiritual capital left…](https://sms4smile.com/quotes/charles-eisenstein/the-financial-crisis-we-are-facing-today-arises-from-the-fact-that/) [Charles Eisenstein](https://sms4smile.com/quotes/author/charles-eisenstein/) > [Ideal for the child and society in the best of times, Rudolf Steiner's brilliant process of education is critically needed and profoundly relevant now…](https://sms4smile.com/quotes/joseph-chilton-pearce/ideal-for-the-child-and-society-in-the-best-of-times-rudolf-steiner-s/) [Joseph Chilton Pearce](https://sms4smile.com/quotes/author/joseph-chilton-pearce/) > [In a couple of decades you have half of the wells that are drilled right now, and you're talking about numbers in the millions…](https://sms4smile.com/quotes/josh-fox/in-a-couple-of-decades-you-have-half-of-the-wells-that-are-drilled/) [Josh Fox](https://sms4smile.com/quotes/author/josh-fox/) > [Disasters affect every state, and North Carolinians have given our own tax dollars to help neighbors and those in other states in times of…](https://sms4smile.com/quotes/roy-cooper/disasters-affect-every-state-and-north-carolinians-have-given-our-own/) [Roy Cooper](https://sms4smile.com/quotes/author/roy-cooper/) > [Things happen too quickly, crisis follows crisis, the soil of our minds is perpetually disturbed. Each of us, to relieve his feelings, broadcasts his…](https://sms4smile.com/quotes/jan-struther/things-happen-too-quickly-crisis-follows-crisis-the-soil-of-our-minds/) [Jan Struther](https://sms4smile.com/quotes/author/jan-struther/) > [When this coronavirus crisis is over, what kind of society will we be? A more important question is what kind of society do we…](https://sms4smile.com/quotes/caroline-lucas/when-this-coronavirus-crisis-is-over-what-kind-of-society-will-we-be/) [Caroline Lucas](https://sms4smile.com/quotes/author/caroline-lucas/) > [The average ordinary citizen can do a lot of different things when it comes to the climate crisis.](https://sms4smile.com/quotes/lawrence-bender/the-average-ordinary-citizen-can-do-a-lot-of-different-things-when-it/) [Lawrence Bender](https://sms4smile.com/quotes/author/lawrence-bender/) > [The turning points of lives are not the great moments. The real crises are often concealed in occurrences so trivial in appearance that they…](https://sms4smile.com/quotes/george-washington/the-turning-points-of-lives-are-not-the-great-moments-the-real-crises/) [George Washington](https://sms4smile.com/quotes/author/george-washington/) > [Firstly, economic globalisation has brought prosperity and development to many countries, but also financial crises to Asia, Latin America and Russia, and increasing poverty…](https://sms4smile.com/quotes/anna-lindh/firstly-economic-globalisation-has-brought-prosperity-and-development/) [Anna Lindh](https://sms4smile.com/quotes/author/anna-lindh/) > [If we Europeans are not in a state to be able to solve the refugee crisis ourselves, if we only depend on Plan B…](https://sms4smile.com/quotes/sebastian-kurz/if-we-europeans-are-not-in-a-state-to-be-able-to-solve-the-refugee/) [Sebastian Kurz](https://sms4smile.com/quotes/author/sebastian-kurz/) > [Urbanisation is not a crisis but an opportunity, seeing it as a crisis is wrong. And not just villages, we want everyone to get…](https://sms4smile.com/quotes/narendra-modi/urbanisation-is-not-a-crisis-but-an-opportunity-seeing-it-as-a-crisis/) [Narendra Modi](https://sms4smile.com/quotes/author/narendra-modi/) [Browse all 3,419 Crisis quotes ](https://sms4smile.com/quotes/about/crisis/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Almost a decade removed from the foreclosure crisis that began in 2008, the nation is facing one of the worst affordable-housing shortages in generations.", "creator": { "@type": "Person", "name": "Matthew Desmond" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/matthew-desmond/almost-a-decade-removed-from-the-foreclosure-crisis-that-began-in/", "about": { "@type": "Thing", "name": "Crisis" }, "@id": "https://sms4smile.com/quotes/matthew-desmond/almost-a-decade-removed-from-the-foreclosure-crisis-that-began-in/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/a9d/matthew-desmond-1529_crisis_almost-a-decade-removed-from-the-foreclo_2137464.jpg", "contentUrl": "https://sms4smile.com/quotes/i/a9d/matthew-desmond-1529_crisis_almost-a-decade-removed-from-the-foreclo_2137464.jpg", "url": "https://sms4smile.com/quotes/i/a9d/matthew-desmond-1529_crisis_almost-a-decade-removed-from-the-foreclo_2137464.jpg", "width": 1080, "height": 1080, "caption": "“Almost a decade removed from the foreclosure crisis that began in 2008, the nation is facing one of the…” — Matthew Desmond", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Matthew Desmond", "item": "https://sms4smile.com/quotes/author/matthew-desmond/" }, { "@type": "ListItem", "position": 4, "name": "Almost a decade removed from the...", "item": "https://sms4smile.com/quotes/matthew-desmond/almost-a-decade-removed-from-the-foreclosure-crisis-that-began-in/" } ], "@id": "https://sms4smile.com/quotes/matthew-desmond/almost-a-decade-removed-from-the-foreclosure-crisis-that-began-in/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```