Amazingly enough, I am still seeing consumer greed in a real estate market that is being devistated by the fact that the public bought homes they couldn't afford. Sure, the banks shouldn't loan above where people can afford, but we have to take responsibility for our own actions.
My truest frustration is the desire for more more more! And in that desire, home buyers are doing one of two things: walking away with nothing, or finding a way to manipulate the system in order to purchase more.
First of all, the people who have decided to rent vs. buy because they can't afford what they want are never going to get there. I know I am writing very directly, but how can this help your family? I remember the first home I owned was NOT what I wanted my bride to be in, but it was ours. In two years time we went from a 1100 square foot dump to a 3000 square foot beauty because we used our homes to leverage advancing our lives. A good buy can change everything for your future. Do not simply give up and rent because you are not getting what you want. Get what you need so you can get what you want later! This is especially true right now while homes are hitting a low that hasn't been experienced in years! Do yourself and your family a favor and buy for the future...please!
Second, the buyers that are getting more than they can afford...beware! The signs are all around us. Almost any financial advisor will tell you that you need at lease 3 months reserves in income. Being a real person, I know that is not possible for most of us. All the more need to be careful. Your responsibility to provide for your family goes beyond a pretty house...they know you love them...don't blow it!
Appologies for ranting, hope it helps someone.
God Bless you,
Jason
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