Why the housing situation sucks…
Posted by Captain | Posted in Disappointment, GRRRRR, Personal, Rants | Posted on 12-04-2012
Let me tell you a story…
Unethical Mortgage Brokers make some really bad loans because they know they’re going to sell them to big banks and not have to worry about. After they sell their loans, people who couldn’t afford their houses, quit paying on them. When the big corporate banks don’t get their money, they kick people out of their homes. The banks don’t really want to diversify into real estate, so they decide to sell off the homes at rock-bottom prices and right off the loss. So they sell off their homes in my neighborhood for 50-60% of their actual value and now I get an appraisal on my house for a ridiculously low amount and can’t sell it unless I walk into closing with SEVEN THOUSAND DOLLARS. So now, my only legal recourse is to become a landlord, and every night I go to bed telling myself that it’s both illegal and immoral to burn down my house. At least I can sleep at night knowing I’m not as evil as 90% of mortgage brokers.
The American Dream has become a farce due to greed and the erosion of morality. Home ownership is an undue burden that we have taken upon ourselves because we believed some bullshit marketing and some idyllic image of a world that doesn’t exist.
You sound like me after I sold my house! ;)
Plus, that last sentence is true even without ethical problems.
The “American Dream” would like very much to lull us into a bliss of ignorance.
Choose the Red Pill…
Let us not forget the idiot politicians who enabled the banks to make the bad loans, and in some cases REQUIRED them to make loans to all the people who could not afford to repay.
Let us not forget the unconstitutional bureaucracies that have grown like a fungus upon our once comprehensible government to strangle us and confuse us.
Let us not forget the political inbreeding between these politicians and these businesses where buddies constantly scratch each others’ backs in a never-ending dance of quid pro quo.
Let us not forget the con artists who sued the banks that refused to make the bad loans claiming that they were “discriminating.”
Let us not forget that our species is infinitely corruptable and that power is one of the surest ways there.
Let us not forget that too much power is being held by too few people.
Let us not forget that today’s popular culture is nothing more than prolefeed designed to keep us dumb and too busy to notice what is going on.
Let us not forget that the REAL American dream is liberty, the right to live your life and manage your own affairs free from undue coersion.
I’ll take a large order of crony capitalism, hold the capitalism.
One party doesn’t trust big business. The other doesn’t trust big government. I wonder why anyone trusts either one. (Note that “big” business is not inherently evil, but as noted, power corrupts.)
Sorry, I’m tired and I tend to be a gripegut when I’m tired…
You speak truth. No need to apologize.
I realize I was lucky to sell my house at all in 2009, even though I lost money doing it, and it was on the market a year. It kind of left me feeling like when the bird of paradise finally flew over me, it crapped on my head.
Yeah, if I could afford to lose money, I would just to get out from under it… but I’d have to take out a loan to cover that big of a hit… and what’s the point of that?