Friday, December 07, 2007

No such thing as "the right to own a home"

Extremely high on my list of annoying shit is people who get themselves into loans they can't get out of and then want the government to bail them out. So it's no surprise that I wanted to HURL when I heard President Bush talk about how we have to come together and help poor folks who are victims of sub-prime loans. Ok he didn't use the word victim but somebody is bound to sooner or later.

Here's my take. If you qualify for nothing better than a sub-prime loan, then you really should not even be getting a loan. Rent an apartment, there's no shame in that.

We can thank our government for pushing companies to make home loans to people who under normal circumstances can't afford a home. Our leaders would have us believe that there is some kind of "right" to home ownership, that every American is entitled to own a home.

Well, every American is not entitled. It's something you EARN, it is not GIVEN to you.

Buying a home is a long, costly venture and should only be done by those who can afford the payments and the upkeep. The truth of the matter is that many people simply can't afford it. Does that make them any less of a person? No. It simply means they have more work to do to prepare for the responsibilities of ownership. There's payments, taxes, insurance and maintenance and these things cost in dollars as well as time. A "home" is what you make of it and you can live in a rental apartment or house and make it a "home". If a person really wants to stop renting and live in a home, where with every payment, it becomes more and more their own, which is an investment for them, something they can do with as they please, then they should take the proper steps to get to that point. But we have to toss out the idea that home ownership is a right and that it's for everyone. It's not.

Many of us knew when the government started pushing the idea of loans to people who didn't normally qualify, that something was bound to happen. And we were right. And now we'll have to pay for it.

2 comments:

  1. Anonymous12/07/2007

    I agree with you 100%.

    I think the government should stop interfering with the market. Their "help" usually creates a bigger mess.--ST

    ReplyDelete
  2. You're correct on everything you stated. Your grandparents worked to EARN the right to own a home, nobody helped them, sure as hell not the government! Gramps got a VA loan, but again, he earned it. and had the injuries to prove it.

    ReplyDelete