Monday, March 24, 2008

I'm Sorry They Made Some Bad Decisions, But...

We were just talking this weekend about some of the improvements we'd like to make on our house. Unless there's a really good reason, like moving for a job, we see no reason to move. Instead, we'll just stay here and make some improvements here and there, like adding a patio and pergola out back, replacing the carpeting with ceramic tile and/or hardwood, and maybe even eventually adding a fireplace. We like our house.

Sometimes I wonder if we're the exception to the norm because, even around here, houses are constantly on the market. Sometimes people really are moving away and have to sell. Sometimes they just want to move to a bigger and better house. I think that's part of the problem with the mortgage industry now. People were taking out loans they really couldn't afford, except that the interest rate was so low at the time that, if they really stretched, they could afford the payments. When the interest rates went up and the payments on their adjustable rate mortgages went up, suddenly they couldn't afford that bigger, better house any more. It may be simple to get quotes for mortgages, but buyers still need to make smart decisions.

Now we keep hearing people wanting someone to help, wanting the government to bail them out. If the government does decide to help these people out, I can't help but think that some of that is my money going to help these people out. Not that I'm against giving. I just don't think it's right to penalize the people who have been responsible and not gotten themselves into trouble by making them help pay to bail out those who have.