Ah yes! Here is yet another synchronous coding that personalizes my initials ‘pour moi’ – the blog title may well be a manifestation of my ‘anger’ towards those who dare reap the rewards of cash (or appreciated profiting) from ‘flipping the house’. A house is supposed to be a place of shelter, protecting the inhabitants within said dwelling against the elements of nature – wind, rain, wind, sun, wild animals, pesky insects, etc. – and not some inanimate object (or real estate property) meant to be bought and sold quickly after making home improvements.
A home is supposed to be sweet (like gardenia scented candles), warm (like a raging fireplace) and cozy (like a bear skin rug). Homes are where families are raised and nurtured with precious memories to be passed on to the next generation. This is how I envisioned real estate property. People buy into the real estate market and live happily ever after. The neighborhood is quaint and quiet and harbors good neighbors who are relatively nice and won’t mind loaning a few gardening tools or a cup of sugar once in awhile. The value of a home is as good as the value of the neighborhood and most importantly the value of loving and caring people.
Alas, I see lots of uncaring people who are in love with making cash from the equity of theirs home, which is really another loan on top of the original mortgage – both of which must be paid off one way or another. The media as usual has been presenting many foreclosures on homes due to (at times predatory) lending to risky borrowers. These same borrowers know damn well they cannot afford to put themselves into debt. And yet they want to live in a descent house with all the nice amenities of fine living. I don’t see the logic in how the poor could live in luxury and don’t understand why they would want to assume a lifetime of commitment that only the wealthy are in reality able to buy.
Buying a dream is one thing. But selling reality is another. The predators know damn well how to catch their preys. They send out their scouts to ‘find’ a player who gets sold into a scheme that appears ‘too good to be true’. Once the ‘asset’ has been acquired, the sucker is lead to believe that its business as usual. Of course greed appears to be the motivating factor behind any business-minded piglet (moi), whose original goal was the free will to share and but in turn fulfill the subconscious ego of appreciation. The ‘fallen’ have truly depreciated their value by not being true to themselves – ‘indulging in activities that don’t befit’ the person.
The risk of losing the house is up to the person. That is their choice or sometimes not — due to loss of job, mind or disability. The risk of filing for bankruptcy is also another way of saying that the borrower is simply unable to pay back the lender. And of course the lender would end up being ruined too. Their survival depends on the lifeline of their tentacles wrapped around investors and their capital, the borrowers and their payments and others sources of credit. Without the useless bottom feeders, the top heavy weights will all fall down.
That is how the world operates. A few won’t suffer but a majority will not escape the darkest of night. I think that’s why some brokers (whose job allows people go broke) jump out the windows when the stock market crashes. It gets that bad because there is no way to repay unpaid debt or fill in a deep hole six feet deep and so on. I don’t know how the economy could sustain itself towards a path of destruction. I see the ‘DOW’ is weakening. I don’t see how anyone could buy into (or gamble away) a ‘short’ market either and still recover the losses against inflationary pricing and the weakening dollar. It’s insane, really.
I see more people are waking up to truth that we the consumers are being gouged by high prices. Our local malls have lots of empty space for leasing; the roads have less traffic and more cyclists; and the grocery stores have lots of spoiled, leftover food, too. For example, one store nearby our home is more expensive than the other store (which requires more traveling time and waste of gas just to get there).
So, people who cannot afford to pay high prices won’t go shopping; thereby leaving businesses to close shop and workers to go jobless. I don’t know why the government won’t declare that the United States economy is in recession. I don’t know why I could just file for bankruptcy and be counted as among those who tried to live the American dream (or horrible nightmare). It’s a sad fate but there is always that light at the end of the tunnel or pot of gold at the end of the rainbow, right? Meh!
Copyright © 2008 by Fluffy von der Flynn. All rights reserved.
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