Friday, May 27, 2005

Time for a productive vacation.

Affordable Housing?Well, it's Memorial Day weekend again. A time to take a moment to pause and remember something. It is unlikely that it will take me all weekend to remember that thing that I'm supposed to remember, so here are my Memorial Day weekend plans:
  1. Spend some time gathering dirt on prominent public officials.
  2. Use said dirt to orchestrate elaborate blackmail plot against said officials.
  3. Rake in large amounts of cash from blackmailed officials.
  4. Use said cash to purchase a house.
This is what I have been reduced to, since it is about the only way I will be able to afford to buy a house. With the real estate market going absolutely insane lately, especially in the Seattle area, it's either this or robbing a few banks, and frankly there's a much lower risk of getting caught and/or shot with the blackmail plan.

The source of the problem, as I see it, is two-fold:
  • DINKs
  • Americans' general comfort with huge debt
Your average Seattle homebuyer scenario looks something like this: Both members of an area couple have jobs paying roughly $35,000-$50,000, for a household total in the $70,000-$100,000 range. Couple gets approved for a home loan in the neighborhood of $400,000, which is way more than they can actually comfortably afford. They find a lovely little rambler on an eighth of an acre in a "good neighborhood" for "just" $365,000. Jumping on the opportunity, they dive into a mortgage that they won't even be able to pay if either one of them loses their job, let alone if they do end up having kids.

Yes, it's thanks to people like our "area couple" that Skor is unable to afford a home, leading to the drastic measures described above. In the unlikely event that Skor is caught and tried in a court of law, this post will serve as evidence that "area couple" is actually to blame for Skor's misdeeds.

Source: Seattle Times
Categories: Local, Personal


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