There are some times that we should not feel sorry for some people…
Now that the federal government has decided to bail out homeowners in trouble that raises some questions. The average American never took out a mortgage loan that they could not afford. So why should they be forced as a taxpayer to subsidize someone else? I am very curious how the government can spend so much money but think they can cut the deficit.
Why should taxpayers who did not buy a home, because they did not feel that they could afford to buy a house, be forced to subsidize other people who could not afford to buy a house, but who went ahead and bought one anyway?
Why should your grandchildren pay for the fraud of some and the ignorance of others?
People like to say how any one of us could be in the same financial trouble that many homeowners are in if we lost our job or had some other misfortune. Who hasn’t been out of work at some time or other, or had an illness or accident that created unexpected expenses? I can remember way back in the day being laid off and surviving on home grown tomato sandwiches made on day old bread from the bread store. Not for a week. Try all summer long. I certainly learned to appreciate eating something besides tomato sandwiches! And I learned to plan for the future a little better.
What if the foreclosures are not stopped? Will millions of homes just sit empty? Or will new people move into those homes, now selling for lower prices- prices perhaps more within the means of the new occupants?
When new occupants of foreclosed housing find it more affordable, will the previous occupants all become homeless? Or are they more likely to move into homes or apartments that they can afford? I bought a foreclosed home and sometimes feel funny about it. I did not cause the previous owners to take on more than they could. When we first moved in we found bills from many different pay day lenders and loan companies.
So did I take advantage of the previous owners or did they do this to themselves?
Should I feel guilty about buying a great deal?
Did the bank take advantage of the previous owners?
I was running late to work one time and got to have a pleasant roadside discussion with a member of the Highway Patrol. He said he was sorry to give me the ticket and I told him not to apologize. I was the one who screwed up, he was just doing his job. Same with the foreclosures.
I am sure people were making fraudulent loans, appraisals were inflated, agents were pushing people to buy more than they could really afford, etc, etc etc. But who is to blame? If there was fraud involved, those people should be drug out and hung from their toenails and beaten with a carp. But the people that bought a home that knew, deep down in their hearts they could not afford it-should they be given a free pass?
If I fall for the internet scam of cashing a check from my long lost Uncle in Nigeria and sending him some money back, am I to blame? Sure the scam artist did the wrong thing. But shouldn’t I have to pay for being ignorant? Painful and expensive lesson but I bet I would not do it again. And any person that heard the story probably wouldn’t fall for it either.
Hindsight is always 20/20. The consequence of making bad decisions is in the future you should remember the lessons you learned. And we don’t have to be the person making the bad decision to learn from it. How many potential buyers are scared to buy today?
Can you blame them after hearing the relentless bad news the media churns out day after day. And almost every internet real estate forum is full of trolls talking about how much better and smarter it is to rent. If you disagree it is only because you sell real estate and you stand to make money from it. Not that you actually have seen the benefits of owning your own home, enjoyed more tax write offs, the feeling of accomplishment from doing the simplest of home improvements.
I do not just sell homes, I bought a home. If I didn’t see the advantages in it, I would not have. Pretty simple.
I feel sorry for the people losing their homes. But I do not want to pay for their mistake and certainly do not want to pay for the investors who gambled and lost. I researched and looked, crunched numbers, and looked and looked. I did not buy a home because I sell real estate. I bought because buying a home was the right decision for me because the numbers worked.
Well suck it up America. We cannot save everyone from themselves and should not expect the government to do it. Those that committed fraud should pay, those that gambled should lose, those that were swindled, I am sorry for. But those that did it to themselves, I do not feel sorry for.