Housing Crisis: Take Responsibility

February 26, 2009 · Filed Under , · 9 Comments 

I saw the following story on CNN about a lady, Minta Garcia, a school bus driver, who bought an $800,000 house with her husband and now wants Obama to come in and bail her out because her house is now only worth $675,000. WOW…..are you kidding me!! Take a look and please leave your opinion of this story.

My Thoughts:

  • My first thought was to pack up and buy a 500 acre piece of property in Montana, off the grid of course.
  • Once I cooled off, I wondered where the husband was. I think he probably was not a sympathetic character so CNN decided to focus only on the wife and kids.
  • Bus drivers just don’t live in $800,000 houses, they never have and they never will.  So the fact that we are going to come up with a government program to keep them in their home is just INSANE.
  • “Your home is not a credit card.” Amen brother.
  • What should we have done? How about we let it play out naturally. Lots of people will lose their homes, prices will drop even more, but we will reach the bottom naturally. Then we will start to build back up the right way.
  • In a related story, a grocery clerk, who bought a Bentley last year, can’t afford to make the payments. Anybody want to bail him out with their hard earned money?

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Comments

9 Responses to “Housing Crisis: Take Responsibility”

  1. Mary on February 27th, 2009 8:19 am

    I just don’t get it…….why live so high above your means??? Are “McMansions” really worth it??

  2. Kyle on February 27th, 2009 9:29 am

    Hi Mary, thanks for coming by. McMansions, I love it! What a perfect name for it!

  3. Marianne on February 27th, 2009 8:08 pm

    I couldn’t agree more, Kyle.

    We’ve moved many times (military, then corporate). Each time we bought a house, we were pre-qualified for ridiculous amounts. We’d look at the numbers, LAUGH, and say, “Thanks, but we like to eat once in a while.”

    I am grinding my teeth at the reality of paying for other people’s bad judgements/mistakes as well as the thought of my children paying for those mistakes as well.

    Good post!

  4. Brian on March 1st, 2009 6:59 pm

    As a Canadian, I feel very lucky that my tax paying dollars is not being used to help pay for irresponsible citizens like these.

    I agree, let the market correct itself. I feel for those home owners who were more responsible, and are now seeing they home prices fall.

  5. manny on March 3rd, 2009 12:42 am

    It’s called an economic cleansing….if you work at McDonalds you can’t afford a 500,000.00 house. You have to work harder than everybody else to be able to afford these things. If the government keeps filling in the gaps it won’t matter if you’re lazy or work hard, you’ll have the same thing. It makes me sick that I’m making my payments, working hard and “pulling the cart”. While the irresponsible folks are just walking away from their bad decisions, jumping in the cart I’m pulling and yelling for me to give them more. I like the Montana idea by the way…..do they have golf courses there?

  6. Kyle on March 3rd, 2009 8:40 am

    I thought an economic cleansing was when I didn’t waste alot of soap and shampoo when taking a shower. What the hell do I know.

    I will build a golf course on my 500 acres!! You in?

  7. manny on March 5th, 2009 10:58 pm

    I’m there…as long as I can at least be greens keeper. I can mow a mean lawn.

  8. melanie on March 19th, 2009 3:12 pm

    That is depressing. And as I read, I am thinking…”What?”

    My husband and I are going through our own financial problems as many are, but I wouldn’t dare ask for help like this. Crazy! We work extra hard, looking for creative ways to cut cost and make money, etc… to pay our bills. Geez! We just believe we pay our own bills…as we created them. Also, if we can’t afford it, get rid of it or downsize.

  9. faroukimarieme on April 19th, 2009 10:37 pm

    how dare she asking for help.
    can’t she live on what she affords .
    i’m the one who needs help,i live in an appartment the size of her master bedroom.

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