Non-foodie Question of the Day
What are your feelings about the mortgage/housing crisis?
After a heated discussion with my coworker yesterday I realize that I have strong feelings about the housing crisis. I might be in the minority but I don’t feel bad for people who bought a house that they couldn’t afford and are being forced into foreclosure b/c they haven’t paid their mortgage in a year. You know what that means? It means you’ve lived rent free for 1 year! But I didn’t buy a house and I’ve paid my rent on time every month for the past 10 years so HELL NO I don’t wanna have anything to do with bailing you out. (Don’t even get me started on the Octo-mom!??) Heck I am trying to save for MY own house. The right way. 10% down.
Now don’t get me wrong. The demo in me is genuinely sad for the people that bought a house and maybe lost their job or emergency circumstance that severely depleted their savings but the majority of foreclosures and short sales are not the case. The majority are people that didn’t see past the 4 bedrooms, 3 bathrooms and picket white fence to what they could really afford.
Yes yes… I blame the mortgage companies and lenders to a point but bottom line is that people saw how much they had to pay – 40%, 50%, 60% of their monthly gross income – when they signed the papers and just assumed they could refi- in X years and get it lowered. Well… you know what they say about assume(ing) right?
I think we were living in a world of Me!Me!Me! and Now!Now!Now! but we’re realizing that life doesn’t work that way. Something’s gotta give eventually. I have more friends (and family) than I can count on both hands that are going through foreclosures. It’s not fun times right now. But let’s take a little personal responsibility. That’s all I am saying…
… And on that happy note. Happy Friday readers. I plan to spend my weekend sneezing, coughing and investing in Kleenex stock.
Entry filed under: NFQOTD.