![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
(no subject)
People who've talked to me about the economic crisis have probably heard my take on home-buyers who bit off more house than they could chew. To wit: Think of your high school class; try to imagine how many of them understood compound interest at the time; recall how many years have passed since the tenth grade. Morally you can say whatever high-minded things you like about signing a contract and responsibility and blah blah blah, but on a practical level, expecting the median American to understand home financing to the point of being able to think critically about loan offers is just a losing proposition. If you don't want people to leave the thinking to the experts, you're gonna have to ditch the ideal of homeownership for the common man.
So: I think my attitude is about as sympathetic to the mortgage-screwed as you can get. And even still, there are people out there, apparently, who make me wonder: What on earth were you thinking?
So: I think my attitude is about as sympathetic to the mortgage-screwed as you can get. And even still, there are people out there, apparently, who make me wonder: What on earth were you thinking?
no subject
Seriously, I do think part of his problem is his choice of where to live and work. Affordable housing around here isn't actually around here.
no subject
ok, maybe not, but he should have done at least the basic math to realize how much he could afford and still have money to feed/clothe 3 dependents.
i can't help but wonder what his wife was doing out west when she was a stay-at-home mom with 2 kids... who paid for her expenses out there, before she moved to DC? being a stay-at-home mom is a full time job, but it sure doesn't pay well, unless you can sign up for a $4000/month in alimony and child support, and the guy actually pays up.
no subject