Monday, October 06, 2008


When I was a little girl, we lived in a 2 bedroom 700 SF house, Phyllis and I shared a bedroom, we had 1 bath, a kitchen and a livingroom. We felt very secure, we were loved, and we rented because in those days Military people just did not BUY houses, because they would be transfered in two years.

When My Dad retired, and we were permanently in one place, we rented again, this time an older 3 bedroom home, that was floated in from Seattle where they were tearing down neighborhoods to build the Seattle World's Fair. AND I-5. It was bigger than anything we had lived in before, had a fireplace, a dining room, a bath and a half, and a HUGE eat in kitchen. It was probably 1200 SF a two story home and needed repair. We felt Loved and we had room to grow in. Phyllis and I shared a bedroom and Mike had his own small room, but we all shared a closet.

When I married and moved on, we lived in a 3 bedroom home around 1200 SF, with a bath and a half one story with a dining room and a kitchen, a typical rambler. We felt secure, and we were loved, and we were comfortable.

Years passed and I was single again and Tim and Donna and I all lived in a tiny TINY studio apartment with a tiny tiny bedroom big enough for a twin bed and nothing else. We had a pull out couch in the living room, a kitchen and a full bathroom. It was a mother in law apartment attached to the main house, but it worked for us, we felt secure, cramped but secure, and we were loved.

More years passed, and I was transferred to Adak, Alaska where I made more money than I could spend there, so I saved! I came home on leave one summer and bought a home. The one I live in still. It is 1400Sf with 3 small bedrooms, and 2 full baths, and a HUGE great room and a kitchen. an attached garage also. I had to put a standard despoist down on the mortgage, and also had to take out PMI (private mortgage insurance) as I was single and had never owned a home before. I was finally secure again, and alone, but I was happy with what I had.

Yes, I dreamed far above my means, and swore if I ever had the money I would build the dream home I always wanted, a log home with tall rafters, and a view of the Water. HA! That aint gonna happen. I lived within my means, sometimes not making other payments but always making my mortgage payments.

Now I am looking at the stock market crashing again, today, with banks failing in Europe and the United States, from mainly sub-prime mortgages and corupt banking practices.

People were buying homes FAR above their ability to pay, and far bigger than they ever would NEED. we are talking 4-5000 SF homes, with Master suites, 5 bedrooms many baths and a family room, living room, and a bonus room. WHY? because they were unwilling to settle for something they could afford at the time. THey were unwilling to invest in a smaller home, and then upgrade as they could afford it.
The Banks and Mortgage companies were encouraging this also. Developers were cutting down forests and building gated communities in places that were safe and secure anyway. The American Public gobbled up the lies and dove head first into a puddle that was not as deep as they thought, and now those homes are being forclosed and those people are sitting there with mud on their face wondering what the HELL happened?

Let me Tell you what happened folks. YOU GOT GREEDY!! ALL OF YOU!! You KNEW you could not afford that house, You KNEW that the bubble would someday burst and still you continued with your insane ways of doing business.

It is now going to be up to ME who I will say is still living in a 1400Sf home that I CAN afford, with a mortgage that is half way to being paid off, to bail you out! Why should I have to be taxed to Bail YOu out of your mortgage? Now I am not talking about those who really did buy within their means, a modest home with a modest mortgage. I am talking about those people with McMansions, three cars, etc. and now in foreclosure.

I am retired, and drawing Social Security and now the GOVERNMENT has just given those same banks and mortgages brokers a 700 BILLION dollar bailout. I have heard that they are also going to help YOU keep your McMansion, while I am still left struggling to pay mine off. My taxes are going to help you, and NO ONE is helping ME.

What did I Miss? Should I have bought a bigger house? should I have let my mortgage go? I dont understand.....SOmething had better CHANGE in WASHINGTON!!!