“Live Free or Die” has become “live free, others will pay the bill.”
My family has been living in apartments for the last 8 years watching the housing bubble grow and grow. We make a very reasonable income, but we stayed (were forced to stay) out of the housing market, because it required an excessive financial investment with only a premise of potential return, and we felt it was only prudent and reasonable to avoid such risks due to the potential dire consequences.
Judging by the rapid and ever expanding bubble, and the bank’s offer of a loan we felt was well beyond our means, it seemed that not everyone was as prudent as we were. We realized we might be mistaken and could end up so far behind the market that we’d never catch up, but we decided we’d rather risk missing the market and postpone our dreams of owning a home than risk our family’s financial wellbeing and lose everything.
Then, what seemed reasonable…happened. The market that was skyrocketing out of control lost its momentum, turned, and began plunging back to reality. As we watched and waited for the market to naturally correct and get within reach of prudent would-be homeowners like ourselves, news of the bailout began to spread.
The bill was signed, and now the natural market correction is being unnaturally arrested. Houses will remain out of reach, propped up by the tax dollars of prudent citizens like us; unless of course we borrow beyond our means for a house that costs more than it may ever be worth and rush anxiously into an unstable market. Ironically, that's what got the market where it is today and what we've worked so hard to avoid.
How exactly does this promote or ensure life, liberty, and the pursuit of happiness for my family? Prudent and fiscally responsible people like my family are the backbone of this nation and its economy, and this may be the straw to break this camel’s back.
I cannot see how this can possibly be constitutional. Where in the constitution is it guaranteed that people will be relieved of the consequences of their poor decisions? How is it constitutional for one group to be rescued from their own ignorant decisions and misfortune at the forced expense of another alleged free group?
If I am free, I choose not to give my tax dollars to such fiscally irresponsible behavior/endeavors.
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4 comments:
Sounds reasonable to me. We also were encouraged to buy above our means--as long ago as 10 years--but refused the offer because it involved lies and other questionable tactics between bank and agent and inspection company.
I am so sorry your family is not finding its just reward for being wise, patient and responsible.
I can't make that up to you, but the Lord delights to--whether here or There.
It's highly questionable wheter we are free or not. I'm leaning toward "not."
My wife and I are fortunate enough to be home owners. Almost ten years ago we bought a modest house at a fixed interest rate. I would like to live in a nicer house, but I guess that's my fault for making good decisions, huh? Got to love Nanny Govmt.
Well, we're moving with prayer and purpose. Hopefully we can get into a house while the market is good for us.
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