America is changing fast and I suspect that
people's needs in housing will reflect the changes yet to come. Keeping
up with the Jones' has proven to be a disaster in many cases. And when
the dust finally settles, maybe people will clearly see the advantages
of living within their budgets. Fuel costs will continue to go up it
seems, as will inflation. What's a person to do to live comfortably and
within their means?
Given the fact, that I once had 3 children at
home and a full time job, I find myself sympathizing with the young
families in America today trying to make ends meet. Equally, I can
identify with the elderly that have watched their retirements dwindle
rather than grow due to no fault of their own. And since, I have been
in the housing industry in excess of 23 years, I have witnessed many of
the homes being built in the 1990's and into the 21st Century. I went
straight from college to a job designing roof trusses (which I did for
19 years) and was doing one truss take off after the other. Business
was booming and the homes I was designing trusses for were huge for the
most part. It was beyond me as to how so many people could not only
afford the mortgage payments and the expenses of upkeep and utilities
for such large elegant homes, but then be able to afford food,
clothing, childcare and so on ... I must say, it left me envious that
so many people had all of that money to afford such luxuries.
Evidently, they did not.
Of course the banks were pushing people
to borrow, and many mortgage brokers were brilliant in their
manipulation of loans, making it possible for people to buy beyond
their means. It was incredible as to how creative their loan terms
actually were; 40 years, interest only, no money down .... "We'll make
it happen for you", they chanted as their valued customer's sold their
futures to enslavement to impress their neighbors. Deep down, most of
us yearn for the beautiful things in life. Nothing wrong with that.
However,
a mortgage owed to the bank means that the bank is the real owner of
your home until that last mortgage payment is made. They can step in
and take 'their' house if hard times hit. This has become apparent to
millions of people in recent years and thus is the reason, I suspect
that attitudes will change. For some, it will be out of necessity that
they downsize their living arrangements, and for others peace of mind
will be the motivating factor to encourage less lavish housing. Every
one has their own reason for living as they do.
The bottom line
is that we all need a home. It is just a question of who owns it; The
bank or you? Personally, I look forward to the day when the answer to
that question is me.