Not a typical post for me but...

I really am concerned about the state of the economy right now. I got to thinking about this yesterday because on our local government website they have added a map to all of the foreclosed houses. What really got me thinking is the fact that they only could put on it the houses that went into foreclosure this year, as if they put all the homes that are IN foreclosure they wouldn't all fit on the map. Is that not the saddest thing you've heard in a while?

Now, what got me thinking is what is going to happen to all these homes? Are they all going to sit and do nothing for a long time? Are they going to get sold at rock bottom prices to more people who can't afford to own a home? Are they going to get sold at rock bottom prices to people who think they can buy them and rent them out? Are they going to get sold at all??

As a homeowner none of these is good for me. If they don't get sold, then they bring down my property value as they deter buyers from the area. If they get sold at rock bottom prices, they bring down my property value as it is established by the recent purchase prices in the area. If they are sold to people who can not afford to own a home, are they going to just use it for a short time and then let it go into foreclosure again? If they are sold to someone who is going to rent it out, will the renter maintain the property at the standard that our homeowners association expects? If they aren't sold, is the bank going to maintain the property?

Now luckily for us, we aren't going to more anytime soon. We are pretty solid in our house and the finances to stay here (not saying it's easy, just saying its doable). We locked in at a good mortgage rate and with a fixed rate so we don't have to worry about the ups and downs of the rates.

I realize that many people whose houses went into foreclosure tried hard to keep their property but didn't understand that the various mortgage rates and such could alter the amount they had to pay each year. I realize that many people have lost their jobs and could not afford to pay the mortgage anymore. I get it...

But, I hate the fact that the people who are making it by are still being effected. I hate the fact that yet again the middle class feels the pinch. I hate the fact that the people who are doing it right aren't going to get any help in this crazy economy.

I just wish there were better answers!

(Thanks for listening to me ramble)


  1. I hear what you are saying. We live in a newer neighborhood that was drastically effected by the economy. The only answer that I have is that I know that God will take care of my family and my last resort is to move to our cabin if something goes way south. It is really sad tho to see homes and people affected like this.

  2. It breaks my heart and I have gotten to the point where I don't even watch the news anymore. I was getting way too consumed by the reality of it all and it was depressing. I pray everyday that it get's better for everyone.

  3. Better answers for sure. The economy is really doing a number on a lot of folks. In CA they have put into affect a 90 day moratorium on forecloses, which will hopefully help the banks work more with these people to try and safe their houses.

    Praying it all gets better soon. Luckily the foreclosures on our street were bought by some very nice families. Only one was bought to rent, and he has done a wonderful job with it. It is all so scary right now.

    Thanks for sharing this.

  4. I think you did a great job with this post.

  5. I think this just goes to show the far reaches of this economy. Not just the people who made bad decisions are effected...everyone is. It's not fair. It sucks. And I really fear it is far from over. Although I can't preach too much. We lost our house in IL for the very reason it wasn't worth anything, partly due to the neighborhood being staurated with other homes at rockbottom prices, but then we were able to turn around a get a house in TX at a really good price because it was a foreclosure.

  6. Totally agree...I'm with's hard to watch the news anymore. The economy just sucks right now!

  7. It is very sad and scary.
    I agree, also, that there is no help for those of us who are doing what we can to get by. I get my bills paid, but there is nothing left over.
    When will it end?

  8. You can rant anytime... I can only claim victory over my fear and trust that the LORD will do the rest! Have a great weekend!

  9. That is so very sad. I feel for all those people, fully knowing it could be us.

    The recession is starting to hit here...the "Nothing over a dollar store" is now Nothing over a dollar .25! I had to laugh, because what else can you do?

  10. I understand. Around here we have homes forclosing, etc but yet brand new developments pop up everywhere, every week. I wish people would be more willing to move into previously lived in homes. I feel like we have more houses than people and all these beautiful houses just begging someone to love them.


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