Financial responsibility
You hear it in the news, Foreclosures at an all time high. I have lived in the southern york county area most of my life and I am taken back at the prices of single family homes, homes that are 60 years old selling for $260,000.00? Are they really worth that much? New homes with signs in front of them stating "Live free for a year, REALLY". Are buyers that stupid? I guess so, because nothing is free.
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As I walk around my neighborhood and see several homes for sale, all are over thirty years old, and all are selling or should I say sitting with price tags of over $250,000.00. None of these homes are worth their price tags, and the average family cannot really afford the mortages, thus the high foreclousure rate. I imagine it will get worse before it gets better. Who is to blame? The perspective buyer who feels they need to "Keep up with the Jonses" and go poor in the midst of it all. The mortgage companys? Who tell the buyers they are qualified for more than the buyer makes?
It all comes down to personal responsibility I guess. Seems to me people as a whole are being Financially irresponsible, and the sellers who think their 60 year old home is worth $260,000.00. Its not!
Bill Hanson
New Freedom
