Really, President Obama? Perhaps before speaking in public you ought to ask your speech writers to think carefully about the words they are putting into your mouth. Maybe a few interviews with real people who have been really hurt by the economic crisis would steer you clear of judgmental and angry words.
In revealing his new housing plan today, Obama said, “”[The plan] will not reward folks who bought homes they knew from the beginning they would never be able to afford,” said Obama. “In short, this plan will not save every home.” (taken from CNN Money article. To view, click here.) By lumping these two statements together, the implication is that those whose homes will not be saved are somehow “irresponsible” (word taken directly from the story.)
“Who’s not eligible. Homeowners whose property values have dipped severely, putting them underwater by more than 5% are out of luck.” Are you kidding? Have you been to California? That’s everyone! Fortunately I sold my home in California a year ago this month. Since that time the house has lost half of it’s value. P.S. It had already lost 30% of it’s value at that time. Are you saying that the person who bought my home, who made a great deal buying something listed at 60% of it’s value, was irresponsible? If so, then you don’t know the half of what it was like and has continued to be like in economies like California’s.
For several years the price of houses skyrocketed so quickly that many families were left renting because they simply could not purchase anything. Even if we had been able to sell our home, we would have paid huge prices and higher taxes on anything else around us. Many people thought the rising prices would stop, so they waited to buy. Two and three years later, the prices of houses were still going up. Afraid they might get stuck not ever owning anything, they bought. In California. Not because they wanted the fancy house on the beach. Just because they wanted to not have to worry about their rent being raised several hundred dollars every year. These were the people who were told by banks they could afford it. And they could. And for a while everything looked fine. Prices were still going up. They felt like the got in just in time. And then – Wham!
Prices fell so quickly, we all felt like we were in freefall. Neighbors and friends started losing their houses, their jobs. It was a nightmare. Those of us who were lucky enough to get out still feel sick for those of our friends who are losing everything. Stuck completely upside down in mortgages $100,000 or $250,000 more than their homes are worth. Again, these people aren’t living the high life on the beach. They are living in two bedroom houses in the middle of the desert. They aren’t evil investors bent on making millions off the backs of taxpayers. They are teachers, police officers, and handymen who were caught in a market that did not favor renters and then bit those who bought.
I am offended and angry for these people, many of whom are personal friends of mine, who are consistently villainized by media hogs who spend little time examining the facts and plenty of time laying blame – calling these people greedy and irresponsible, without having a clue of what it’s like to live through that kind of rise and fall in the market. I find it reprehensible enough that I have to listen to hurtful language from those who do it to create ratings for their tv shows. I certainly do not expect to hear this kind of language from the leader of our country who was elected to represent us all.
I get that the housing bill can’t save everyone. I get that people underwater by huge amounts of money can’t be saved because it is not financially feasible. But instead of adding salt to the very real wounds they have, let’s say things like, “I’m sorry. I know your situation is rough, and I don’t see the solution to your problem either. But I want you to know that we care about you. We are putting plans together to try to help the economy, and we hope that will have a positive effect on your situation. Short of being able to do anything else for you, we are here to listen.” That’s all I can do as a friend. That’s what my President should do, too.
-Ted Murcray
Recent Comments