So I have to add my thoughts into the world of mortgage rates and the potential freeze of rates that the US is talking about...it just seems so wrong for the government to have to step in and save people from themselves. No one bought a house because some big thug showed up with a stick and forced them into signing the mortgage papers. It was a big emotional thing, one must buy now as the market is hot and the rates are low. It seemed that everyone around my age decided to buy in the last four or five years, even if they didn't have any money for the purchase.
I find it hard to really even feel bad for these people who have houses they can't afford. Sometime it seems that credit is a drug that deludes you into thinking you can buy happiness. Until it's all gone and you realize that that your reality stinks. Then people play the victim. I don't know the ends and outs of everyone's story but it makes me mad that people who save and try to only have what they can afford are really thought to be rather strange. We didn't buy a house because we figured we would be moving at some point and didn't want to get caught in a falling market with an expensive house that we HAD to get rid of because of job changes. We didn't want to get stuck. Now I know we are in Canada, but any job changes would no doubt take us south of the boarder. How can I sympathize with people caught up in this adjustable mortgage stuff when I just want to sit them down and teach them something about basic math and mature responsibility?!
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