The American Way

It was about 8 years ago when the housing market took a nose dive. Prices were dropping like needles from an old tree. Our whole town house complex took a nose dive. But within two years people who could not afford the over inflated prices were able to pick up a house at a reasonable price. Those who had to move but did not want to loose money rented out their place until the prices came back up. No one came in to bail them out and even my daughter was able to find a house at a decent price as a first time home buyer. 

Within 3 years the value of her house doubled. And not one bailout loan had been given to anyone. Now the houses are so over inflated once again that it would be good if houses were to drop in value. I understand that there are people woh move because of their job situations but when are people going to  buy a home like they used to? Homes were an investment in their family. This was where they were going to raise their children and grow old.

I'm sorry but I just don't feel sorry for the people who are loosing their home to ARM loans.Who in their right mind would gamble like that?  I don't feel sorry for Car manufacturers who due to greed built humongous trucks and Hum-vies even though they were guzzling up vanishing resources. If they go out of business there will be another company to come along and learn from their past mistakes. Those people who worked in the automotive industry made huge pay checks. But like the rest of the nation, myself included, decided to live beyond their means because they thought their jobs were secure. 

Now I am trying to live without using my credit card. Cash only. I've never been so poor and have never realized that I am actually poverty stricken. Those damn cards have ruined our whole economy and yet not one thing has been done to stop them. Credit card companies  are no better then the banks that issued loans to people who could not afford to pay for the house that they were buying. So if the banks are being blasted for it why aren't the Credit card companies too?

Wow, I did not realize how upset and mean I've become. It's just that I am sick and tired of the news, politics and the American way. 

"Being able to charge to your hearts content? Debt for life. Owing no charge card company? Priceless.