The Other Costs of Home Ownership

Despite the traumatic breaking of the housing bubble, I think it is fair to say that the desire for home ownership by non-owners remains strong. The lust to be a homeowner almost seems programmed into our DNA, even though a home “owner” these days is in reality more of a long term borrower. For example, 55.4% of Americans in the 55-64 age bracket have a mortgage compared to the national ratio of 48.7%. (Source) Thirty years of debt is a long time. Read more

Can We Have an Economy without Losers?

I’m getting the feeling that our government is trying to design an economy in which nobody loses.  Is it possible to have an economy without losers? I don’t think so.  

Despite President Obama’s attempts to transform what was a national credit party into a government rescue party, every economy has its share of losers.  Ours can be no different.  The government can intervene but by doing so, it will either make matters worse or at best shift the losses from one group to the next.  Unfortunately, it seems that the Obama economic and political teams have decided to rescue almost every economic loser they can identify, with little regard for reality and the long term consequences. Read more

Taxpayers Crushed by the Destructive Push for Home Ownership

Stakeholder Industries Push the Myth that Home Ownership is for Everyone 

Everyone agrees that that the current crisis in the financial markets is caused by the billions of dollars in mortgage loans that are in default, and by the reality that the amounts owed exceed available equity in the associated real estate.  Enough said about that. 

Mr. ToughMoneyLove has some additional hard truth. Read more