Friday, May 30, 2008
I know the housing crisis is awful. I know lenders were predatory and gave loans when they shouldn't have. I don't mean to blame the victims, for whom I feel truly sorry. But the couple featured in this article bought their "dream house" for $535,000. They earn about $65,000. Looking at those numbers, no matter the financing, the decision to buy a $535,000 house on that income just seems like -- how do I say this? - it sounds like a bad decision. Amid the terrible loss and financial ruin to normal people that the housing crisis has brought - does it also shed some light on our messed up sense of value and proportion -- like it all can be and should be ours, even if the numbers don't add up? And why does having it all and living in a dream house have to mean spending a lot of money? I know it's a little naive to ask this, but I still think it's worth asking.