Thoughts on Housing Crisis from a Wise Person

We have Internet access down here in sunny soaking Florida so I thought I’d link to this article my friend Gunner wrote for the Smyrna AM.   His words are truly eloquent in this missive.

Poor is when you hope and dream of owning your own house and one day you hear about the programs, those HUD (housing and urban development) programs to get low income people to purchase housing.  Poor is buying a house and living the dream because the government might have helped you and that means it must be alright…right?

Very well said, G.


12 Responses

  1. Shame is the enemy.

    While I’m not poor, I was able to buy thanks to 100% financing. Luckily, I knew better than to accept the bank’s estimate of how much I could buy.

    I think my own estimate was about 2/3rds what they approved me for. Which means I can save money, spend money when I need to, and owe very few people anything.

    There are people who are “losing everything” now and for far too many of these Americans, their sense of shame prevents them from continuing to live. There is no shame in starting over. That is one of the greatest attributes of America; our immigrants know that, our ancestors knew it, it’s time we all came to know it again.

  2. I’ve always contended that there’s a *huge* difference between what you’re eligible for regarding a home loan and what you can afford. I once got into an extensive debate over this where a former boss argued that if you’re qualified, you should be able to afford it. I said, “No, not necessarily.” and went into my lecture about over-extending your finances.

    So yes. And I really like what you said, Kitti, about no shame in starting over. Don’t we all do this in different ways anyway? Whether a new career, divorce, new family, becoming widowed, relocating to a different state… starting again is a fact of life.

  3. I could only buy with the 100% financing as well. Like Kitti, I refused to spend as much as I was told I could. I still paid more than I probably should have comfortably, but it’s the cheapest/nicest one I could find. I struggle from time to time on the extras, but always have enough to pay my bills without a problem.

  4. I recently bought my home from Kathy T. and was scared to death at first because its a huge purchase for me, but now I sit back and look and feel so very proud of myself that at the age of 42 I have finally done something for myself. I am going to make it even though I have to work 6 days(nights) a week to be able to pay the bills but at my age it’s all I need to do right now. I have thought about geting a roomie but hey I will only do so when I have to. Most folks have 2 incomes coming to help pay the bills but for us single folks it can be hard. I dont spend much on food for I eat at work and my average cost at work is about $10 for six days of eating , so I cant complain there. If I had to do it over again I would do it! I was one of the lucky souls that got in under the Ameridream program for first time home buyers and had very very little out of pocket money. If you ever need a new home I suggest that you contact Kathy T. for she knows her stuff and will treat you like you need to be treated…Family! thanks again Kathy T. for being my friend and realtor! YOU ROCK!!

  5. Bearoller that’s a FABULOUS story! Congratulations on buying yourself a home!

  6. Being Poor by John Scalzi:

    Being poor is getting angry at your kids for asking for all the crap they see on TV.

    Being poor is having to keep buying $800 cars because they’re what you can afford, and then having the cars break down on you, because there’s not an $800 car in America that’s worth a damn.

    Being poor is hoping the toothache goes away….

  7. Bearroller,
    Just curious. I was driving in to work this morning and stopped and got breakfast, and I thought to myself…how does this person eat $10 for 6 days of eating. Is it just lunch? I need to save money as well…what are you doing?

  8. Like I heard on the radio the other day, buying a home is the “American Dream” but may not be a reality for all Americans, if you can afford it you should not buy it! Thanks for the post.

  9. Check out, posted this morning. Shows what’s going on in La Vergne. So sad for all of us that this has been allowed.

  10. For what it’s worth, I don’t think the article is fair. They don’t take into consideration that this is the largest subdivision in the state. If a 10 home subdivision had 8 foreclosures and a 3,000 home subdivision has 300 foreclosures, which subdivision is worse off?

    I agree that the foreclosures numbers are disturbing, but this story makes it out to seem like something about LFE caused this. It’s really more about the sheernumber of houses than anything else.

  11. […] about the foreclosures in Lake Forest.  I have to agree with him that while the report was true, the numbers game was perhaps not closely examined, If a 10 home subdivision had 8 foreclosures and a 3,000 home subdivision has 300 foreclosures, […]

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