How to Stay out of Debt. The Housing Crisis Could Have Been Avoided.
March 6, 2008
If you’ve watched the news at all over the past few months you’ve heard about the current “housing crisis” in the U.S. You would think that millions of people are being evicted from their homes as we speak. Tales of families left homeless are in every newspaper. Many are calling for a government bailout. A closer look reveals a much different story.
In actuality, 96% of home owners are doing just fine. 3% have missed a payment or two, which is not a good thing, but it doesn’t put them in real danger of eviction. The remaining 1% will have to leave their homes. So, let me review. 99% of homeowners are doing just fine. The few remaining homeowners will be leaving houses they never should have bought in the first place. They bought houses way out of their price ranges under too-good-to-be-true conditions. Now they are paying the consequences (they don’t have the money to pay anything else). Some are calling for the rest of us to rescue them. Personally, I don’t think it’s the responsibility of all taxpayers (homeowners or not) to pay for the mistakes of a few. Instead, I’d make sure it never happens again by requiring all Americans to watch this video.
Let me know what you think.
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4 Responses to “How to Stay out of Debt. The Housing Crisis Could Have Been Avoided.”
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Are you a communist?
If everyone only bought what they could afford, there would be no capitalist economy! People wouldn’t get in trouble so politicians could bail them out. Who would we elect if no one bailed us out?
Next thing you’ll say is that people shouldn’t get tax rebates if they didn’t pay taxes! How can you “rebate” something that wasn’t paid in the first place, you ask? Simple. Most people who don’t pay taxes are minorities and to deny them rebates would be discrimination. The result would only be more tax breaks for the wealthy on the backs of people who pay no taxes.
Si, se puede!
um, the video isn’t showing up!
and now it is…