So Far, I Haven't Been Bailed Out
This is me ranting about something that I think it simply getting a little ridiculous. I tend to be a moderate--neither extremely liberal or conservative--though I do side with the extremes occasionally. That being said, anyone that thinks the Federal bailouts which are winding their way through Washington are intrinsically tied to a political affiliation are fooling themselves. I am especially angry about the $75b dollar mortgage bailout. It's simply irresponsible spending that encourages a culture of snowflakes.
Here is my thinking (and I know some of you have purchased houses and are feeling dismayed by your sinking home value). Buying a house is an investment. Investment is a fancy word for a gamble. Whenever you invest or gamble, there is the potential that you will lose. There is a potential that you gain. Years of growing have taught us that housing prices are a sure gain, and quite clearly this isn't the case. We can outbuild ourselves. Demand for houses will go down, and when demand goes down, price has to follow. The bailout, in its current form, is geared for people who cannot afford to make their mortgage payments, but it will only help to get the mortgage payment down to 30% of a family's income.
'Scuse me, I already only plan on paying 30% of my income towards housing. I thought that was the standard. I want a bailout. I would use my bailout to purchase a house at a reasonable mortgage. I would only purchase a house for which I would pay 30% of my income per month on that house. THAT would save the housing market long before bailing out idiots would. That would be pure socialism. I welcome it if it benefits me...the bane of socialism.
On another note, despite having a guarantee from the state that I will have at minimum 16,000 dollars per year for the next 4 years, and can provide proof that I'm currently making twice that, I look unemployed because I am a student. I am more or less a guaranteed good bet, but I know of people that make less and have a less stable job that have somehow afforded themselves houses that are worth more than my father could afford--and he's a physician. They will be bailed out. Fuck that noise.
I don't want to pay for those assholes. Better yet, I don't want any future offspring to have to pay for these assholes and their asshole children. Eh, I should leave the kids out of it, but if the parents don't learn a lesson, they won't pass it along to their kids, and we'll be talking about a 75trillion dollar bailout for them in 30 years when this shit happens again.
But, it's all play money anyway.
Here is my thinking (and I know some of you have purchased houses and are feeling dismayed by your sinking home value). Buying a house is an investment. Investment is a fancy word for a gamble. Whenever you invest or gamble, there is the potential that you will lose. There is a potential that you gain. Years of growing have taught us that housing prices are a sure gain, and quite clearly this isn't the case. We can outbuild ourselves. Demand for houses will go down, and when demand goes down, price has to follow. The bailout, in its current form, is geared for people who cannot afford to make their mortgage payments, but it will only help to get the mortgage payment down to 30% of a family's income.
'Scuse me, I already only plan on paying 30% of my income towards housing. I thought that was the standard. I want a bailout. I would use my bailout to purchase a house at a reasonable mortgage. I would only purchase a house for which I would pay 30% of my income per month on that house. THAT would save the housing market long before bailing out idiots would. That would be pure socialism. I welcome it if it benefits me...the bane of socialism.
On another note, despite having a guarantee from the state that I will have at minimum 16,000 dollars per year for the next 4 years, and can provide proof that I'm currently making twice that, I look unemployed because I am a student. I am more or less a guaranteed good bet, but I know of people that make less and have a less stable job that have somehow afforded themselves houses that are worth more than my father could afford--and he's a physician. They will be bailed out. Fuck that noise.
I don't want to pay for those assholes. Better yet, I don't want any future offspring to have to pay for these assholes and their asshole children. Eh, I should leave the kids out of it, but if the parents don't learn a lesson, they won't pass it along to their kids, and we'll be talking about a 75trillion dollar bailout for them in 30 years when this shit happens again.
But, it's all play money anyway.