President Barack Obama’s plan to confront the housing and foreclosure crisis is even more ambitious than first expected — committing as much as $275 billion in an effort to keep as many as 9 million Americans from losing their homes. [Politico.com]Now, the Heathen perspective on this housing situation is one of personal responsibility. But, no, it's so much easier to swim with the tides of victimhood and declare, "It's not my fault. Someone has to do something to help me out of this mess!" Yes, the promise of owning one's own home was dangled in front of alot of people. Banks and other lenders pushed through huge loans to people who had no business receiving them. But did anyone actually twist the arms of these homeowners-to-be? At some point, these folks should have been able to realize that the so-called prevailing wisdom of buying "as much home as you can possibly afford" with the hope of increased income or increased property value that pays for itself down the road was simply spurious, if not completely irresponsible. Where did these people learn the basic principles of economics and budgeting? Mrs. Brainwise and I passed on a number of homes, and even dropped out of few bidding wars, simply because we were determined to not be "house poor" or overpay on the value of a piece of property. Yes, we have a smallish home, and we have had to do some work on it. But much of the work pays dividends in value. We're sitting fairly comfortably and there is very little danger that we'll lose the house. If you can't set yourself up in a similar manner, then you're probably better off continuing to rent instead of sinking money into a losing prospect and then waiting for the government to bail you out. Stop using my tax dollars to help folks who cannot handle money in the first place! ---------------  The 5th Amendment does offer protections to our "life, liberty, or property," noting we cannot be deprived of any of them without due process of law. (Reference: Things That Are Not In The U.S. Constitution).  Barron's Law Dictionary, 2nd Ed, pg.378.
Wednesday, February 18, 2009
Life, Liberty, and the Pursuit of Happiness [Real Estate Edition]
"Life, liberty, and the pursuit of happiness" are among the inalienable rights of people according to the Declaration of Independence. Yes, I said the Declaration even though most people mistakenly attribute the phrase to the Constitution . Still, because these rights have been mentioned in the Declaration, giving them a certain degree of forcefulness, they have been used in arguments against government regulations (particularly that "pursuit of happiness" thing . Now, I actually had a reason for bringing up what is perhaps the most famous phrase of the Declaration of Independence. And that is something I have heard my father say often in reference to government foolishness: "The Founding Fathers said people have the right to life, liberty, and the pursuit of happiness. Food, shelter, clothing ... that's up to you. Period." Speaking of government foolishness, it would appear that our new President disagrees with my father: