In my extreme frustrating with the housing market, Obama and his massive spending plans, and greedy people, I am left pondering this thought.
Is honesty really the best policy?
From the looks of it I would have to say no.
Here I am in my house. The one that we pay for, that we qualified for honestly and what do I see when I look out my window, nothing but renters and foreclosures. Now I have nothing against renters, I myself was one for a long time, I have a problem with the owners of that home. Most of them have rented their house so that they can get in a bigger house for a better deal. What happens when they lose their renters though? Are those people able to afford both mortgages? Did they have to prove that when they got a loan for their second house? I will give them this, at least they bothered to find renters unlike the ones who find some shady way to get into another house for less money and then just walk away from the other one. I highly doubt that all the people in my neighborhood renting houses to someone make enough money to cover two mortgages. I know I don't, which is why I am still in my house. Still making my payments. Each week looking at the home ads in the real estate section of the paper with a sick feeling thinking about all those people continuing to contribute to the mess caused by greedy people, which in my mind they themselves are becoming.
So why is it that when it comes to money and markets in general honest people never win? I myself will now be taxed more to make up for the greedy and dishonest people who obviously have no concern for what they are doing to the already severely damaged economy. Which in turn means I will not be able to "stimulate" the economy with my consumer spending because I have less and know enough about managing money to know when you have less, you spend less.
Although Obama says help is on the way with his new 75 billion dollar plan to fix the housing crisis. This time he says he is going to help the responsible ones as well. I am not sure how since there are 7-9 million homes in trouble.( Are there really that many people in this country that don't have any money managing skills. Granted that number does include those who genuinely in trouble not just those who are greedy.) I am pretty sure the responsible ones will be getting the crumbs of that 75 billion.
So I pose the question....
Do you think it is dishonest to just walk away from your responsibility (i.e your mortgage) all in the name of greed? Or is that just how you have to play the market in order to survive ?
Disclaimer: I did not write this post to offend anyone. I wrote it to vent frustration with current conditions and to hear others opinions from either side. If you were offended chances are you have contributed to the problem not because you had a real justification (loss of job, job transfer, starting school, etc.) but because everyone else is doing it.