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Are we the victims of our own indulgence?

Reblogger Chris Ann Cleland
Real Estate Agent with Long and Foster Real Estate VA License # 0225089470

Richard Weisser asks a good question:  Are we the victims of our own indulgence?  As my Mom would say, and who knows if I'm going to spell it right, "You bet you're sweet patooty."  I am really tired of hearing everyone bemoan the evil banks and credit cards that MADE us hang ourselves.  What about our ability to live within our MEANS?  There's a concept!

I can't help but agree with Richard.  I'd love to hear your thoughts, but also encourage you to leave a comment on the original post as well.

Original content by Richard Weisser

Dan Lawson Place Cades Cove Great Smoky Mountains National Park.There was a time when a house was a simple place. It consisted of a few walls with a roof and a fireplace or a stove that offered protection from the rain and the cold. It would be constructed with local materials, often found on the property itself.

Since there was no electricity, there was no need for stainless steel appliances or fancy light fixtures. The only granite would be the boulders used in the pillars in the foundation or stacked in the chimney.

People survived by making do with what they had. They lived within their means and if that meant doing without then so be it. It was a hard life that demanded arduous work and a daily risk of loss of life or limb.

The hardscrabble existence was punctuated with the underlying tenet that you paid your own way, and that charity was reserved for the sick or the handicapped.

Over the years, as a society, we have demanded more and more from life than just “getting by.” And at some point, the tide shifted from paying your own way to buying everything on credit.

But there is a day of reckoning looming ahead for all creditors.

And when the piper demands his fee, will we be ready to pay?

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Comments(7)

Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

There is a commercial running on the radio right now that makes my blood boil!  It talks about how NOW is the time for American citizens to rise up and demand relief from their credit card debt.  AS IF it were unfairly assigned to them somehow!

Houses became ATM machines at the same time people decided they couldn't wait a minute longer...no more starter homes for many, they wanted what they wanted - and they wanted it NOW!

Nov 06, 2010 02:18 PM
Alan Gross
PrimeLending, A PlainsCapital Company, Equal Housing Lender - Bethesda, MD
Loan Consultant

For several years for a lot of people houses were not homes but investments to buy and flip. Greed took over and unfortunately at the same time lending guidelines’ were loosened. People didn't worry about payments because they figured they'd sell before it was a problem. I knew there was a problem before it surfaced.

Nov 07, 2010 12:03 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Susan:  And now that they can't fulfill their obligations, it's everyone else's fault.  If we don't learn anything from this mess, aren't we doomed to repeat it?

Alan:  I was entering the real estate industry when we were peaking.  I think the biggest clue to a newbie like me was that first time buyers couldn't afford ANYTHING more than half the time.  That's a big problem.

Nov 07, 2010 03:03 AM
Sally Dunbar
Lyon Real Estate, Fair Oaks CA (Sacramento Area) - Fair Oaks, CA
Fair Oaks Realtor - Fair Oaks Homes for Sale

The pendulum just keeps on swinging.  whenever we get too far out of whack, we swing the other way.  Just look at cooking.  for years I heard how kids these days would not know how to cook, as they were all eating in fast food restaurants.  Now there is an incredible revolution going in cooking, and young people do dinner parties, with home cookin' like crazy... motly from scratch  This is our time to cut back on our crazy indulgences.

AND to be reposnsible!

Nov 07, 2010 03:52 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Sally:  Being responsible is not fun sometimes.  I just had to turn down a great deal on a new car.  It's not in the budget.  But being responsible will keep you out of trouble.

Nov 07, 2010 03:56 AM
Anne Clark
Metro Referrals - Gainesville, VA

Absolutely we are the victims of our own indulgence.  Want and need have been confused to have the same meaning.

Nov 11, 2010 11:44 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Anne: Couldn't agree more. 

Nov 11, 2010 11:52 AM