I was reading a news article today which the headline was that over 1 million homes were foreclosed upon in 2010 and that this year that figure was going to rise at least by 20 %.
So, what I don't understand is that the citizens or rather the taxpayers of the US, forked over gazillions of dollars to save the banks and other entities in order not to have a catastrophic collapse of the banking industry, they fed the banks ...but the banks are still getting all those homes and then still collecting the funds that come for the foreclosure sales....
But the taxpayer and people that lost their homes have nothing to show for it.
Someone once said that if the taxpayer simply took that money that they have "taken" from them in the form of debt to the country and simply bought all the upside down mortgages it would have been less that what was spent on the effort to save the banks.
To me it would have made more sense to have the banks and businesses fail that didn't correctly manage their assets,
The banks and mismanaged institutions got richer, and the poor and taxpayers got poorer.
In Mexico we had to pay for everything in cash. No home mortgages, no loans, no problem.
Meanwhile I was also reading that in Las Vegas where there was 60% slide in the values of the homes, and that there are at least 10,000 vacant homes, they are building new homes.
Seems that no one wants to live in a subdivision where the homes are all abandoned, foreclosed and overgrown........
Now that makes a lot of sense.
Also it seems that there is a new trend for building smaller homes now....I wonder why?
I guess 8000 sq ft home is just a little too big for two people?
So the new construction homes are built that are between 1200 and 1800 sq ft.
How is that possible?
When I was growing up, a family of 4 lived in a flat that was maybe 750 sq ft. We built a two bedroom house here in Mexico and even now, had I had it over, I think I would have built it a little smaller. Amazing what 10 or 15 years will do in the requirements of space. I think I could do fine in a 1000 sq ft home today.
If you really want to read how bad it is, go here
There is also considerable discussions around the world of getting off the dollar standard. I have seen some signs in Mexico where they no longer want the dollar.......
My how times have changed.
This winter has been cold, last night it dropped down to the low 30's. As most of you know we have fireplaces for heat. The other night I was thinking of how much it would cost to install a gas forced central heating system.
When we built the house we planned for it, but because of the mild climate, that year during construction we oped out of installing it.
Why put it in if the fireplaces do a sufficient job of heating?
Well there is the convenience factor........a factor which I am becoming more understanding of the older I get.
Not that it won't hurt me to carry in a dozen or so logs each night to each fireplace, BUT......
With a furnace comes other benefits and drawbacks.
Maybe an extra sweater and some real thick socks will do.......
Perhaps I should invest in a set of Long Johns........but that seems so Victorian.....
Or maybe a nice little condo in Mazatlan or Zihuatanejo instead.
Just kidding......the days in the mid to high 80's in Patzcuaro are just fine. And there is no humidity. I remember some of our stays in Mazatlan, where we never even left the room because of the heat and humidity.
Firewood seems pretty easy to bring in now that I have thought of it. And much cheaper than a condo.
