2014-03-06

What Is Freedom? Self-Reliance

Advice for future home buyers.

I don't know but the article made me wonder about how people get in a mess. You can only blame the dog eating your homework so long before accountability rests on you.

Buying a house is a massive commitment. It's one of the great symbols of independence and even freedom. 

Save for a down payment. Aim for 20-25%. It'll help keep the mortgage payments (load) lower. If you can't save enough consider renting in the meantime. Mortgage payments can be an albatross and risks destroying your life.

There's no such thing as the government being able to make 'housing affordable.' If they try that stunt and scheme again the disastrous results will be predictable and inevitable.

Don't rely on the government. Their faulty belief that everyone should own a home helped create a fiasco. Worse, in an unprecedented move, they then set to bail out people and their mortgages. They got by this by blaming the banks. To me, it's no longer about the blame.

It's time to get back down to the fundamentals. If your mechanics are wrong, your curveball won't be as good as it could be.

Rely on yourself. Be reasonable about what you can afford.

Basic, time-honored tenets of saving and living within your means is the key. It's possible with a strict and logical household budget.

Give it a try.

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