American Thinker: It's the Culture, Stupid
I read this and I found it very interesting. The comments are pretty good too. We must stop rewarding failure and start looking at the true facts. The housing crisis was caused by the same mentality as giving a 16 year old a car on their birthday. They didn't do anything to deserve it and they didn't put in any sweat and tears to get it, so they have no real investment in it. What usually happens to that car? Wrecked within a few months and then it is up to Mommy and Daddy to buy them another. I have only personally owed six cars my entire life and I worked very hard for each. I appreciated and protected my investment. I worked hard to get it and I would not risk losing it because of the hard work required to replace it.
This is the same way with the houses that I have owed. I didn't buy the biggest house I was approved for, but rather one I could afford without constant worry about how I am going to pay the mortgage. I didn't run around looking for tricky financing, but for the sake of honesty I did have VA for my first home. I have never missed a payment and I pay extra principle when I can because that is just smart. There was no one from the government telling to buy only a house I could comfortably afford, but rather the opposite so trust yourself and not the government. Who knows you better than you?
People, we need to start taking responsibility for our own actions and stop looking to the government for answers. Get yourself out of debt, payoff those credit cards, buy a house you can afford instead of the biggest one you can get financed, and stop looking to the government for a handout. This is the country of SELF determination and PERSONAL liberty, which means you are free to be a dumb ass, but don't expect me to bail you (that includes banks, auto industry, and mortgage companies).