Friday, 05 27th

Last updateTue, 08 May 2018 3pm

HUMAN GREED IN THE HOUSING MARKET AND WHY WE HAVE TO REFORM OUR THINKING & OUR SYSTEM

I just had a thought! Since the dawn of time, I believe most humans have probably been very selfish and greedy and not thinking of anyone except their own personal well being! Well, nothing has really changed even today. All you have to do is just look around you. We have a world of debt in our country and around the globe. Very few countries no how to apportion their tax dollars in a fashion that benefits the masses. More important taxes keep rising and still without budgets that stay within a reasonable and comfortable range! Have governments around the globe gotten too large and bloated? The answer is yes, but we want more and more services but want to pay less and less for them. Would you take your garbage to the dump, let along have the time to do it? how about cleaning the street outside your home, ready and willing to clean it? Where would you get your clean water if it weren’t for our modern facilities? Where is the nearest body of clean water? Who has the time or wherewithal to manage and do all these things that we take for granted, that our federal and local governments provide?
Now, when it comes to housing we have to come to the realization, that there cannot be anymore handouts or simple no income check mortgages. They just do not work, not when some individuals and mortgage people changed figures, as was the case in the past, just to get a commitment for the purchasers, so a fee could be supposedly earned. This was during the hot market of the past! Banks were making fortunes, pushing money out the door to the masses with the blessing of the Federal Reserve and Wall St. Much money was made, but, look at what it has done to our system of free enterprise!! It is no longer a free enterprise capitalist system, but one that is controlled by a few at the top with money, who dictate what and how we should do things, who should or should not receive a mortgage. Many are just slaves to their jobs, just to make their mortgage and bills. But, at this point, I do not want everyone getting a mortgage that does not show the income, credit or debt/income ratios to warrant receiving a loan. Years ago we never had variable rate mortgages, only fixed. The industry got creative, just to get more people into the game and what a game it became!! They were throwing money to everyone on every corner, without worrying who could or would pay it back. Now we are at the opposite extreme, when the banks are looking at every little item on your credit, verifying income (no more stated income loans) and if your debt/income is more than 45%, you probably won’t earn that nod of approval by your bank. Lastly, if your credit is not close to 700, you may not get the loan, depending on your other variables, but you could pay more in interest if you are not in the top tier of credit worthy individuals. Yes, we have come a long way, but the greed is still here and our system needs tweaking and revamping to rid itself of the wasted dollars and unproductive individuals in our government. However, it has been a pork barrel for the last 335 years+ and I am fairly confident, that the Greed, smoke and mirrors will continue in the same fashion in the future. Do not blame Obama, since this has been happening way before he existed. The only difference, he took on many challenges and was told, “we have to spend our way out of a recession, as history had taught us. they accuse him of not spending enough; that is ridiculous to say the least.
I do not believe this is true any longer. Our debt is way past a comfortable safety zone. We need to reinvent ourselves, get re-educated, get back to basics, get off our butts and start doing something!!! Oh yeh, and lose some of our weight and get away from the TV, internet and go out and take a walk, move the body, exercise the body and brain, talk to your neighbor, get involved, fix things, invent something. Just Do It!!! (Sorry for the rant, but I was in the mood to do it!) Lastly, is the alternative of being a second or even a third world country in the cards; the future will be either the rebirth of our country or a rude awakening. What do you think? Appreciate your comments…..

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