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The Homeowner Crisis Affects Everyone

By Audrey Daniels

Republish: EasyPublish™ Published: 11Jun2008 Word count: 426 Viewed: 450 time(s) Get Free Content For Your Site

In today's tough economic times with costs associated with just simple, every day living, spiraling out of control, many homeowners are coping with the almost certain loss of their most prized possession-The house they thought they'd have forever. No homeowner, especially those who bought homes in the last 5 years, saw this spectacular rise and drastic fall, coming.

It is a deep shock for many homeowners. Their 'wonderland' dream has become an all too real nightmare. Most are simply trying to 'maintain' (a normal life) while scrambling like crazy to plug all of the financial leaks, until a solid financial answer comes along.

For others, packing up in the middle of the night is the only answer they can come to. Such a sad ending to what once was a solid, financial dream has quickly turned into their worst nightmare. Aggressive property speculation and greedy property 'flippers' helped drive up housing prices, along with their equally as aggressive sub prime loan officers who put want to be homeowners in properties they knew they couldn't afford.

If the right checks and balances and real estate protocol had been followed, many would have been disappointed to find that they couldn't really afford a house and would be far better off had they known the hard facts.

Not only are adults faring badly over this traumatic situation, but children are even more so devastated to find that they are being put out of their homes. They are scared and bewildered, not knowing what to do and in many cases, thinking that it is their faults for losing their home.

Many adults are finding themselves having no other alternative but to swallow their pride, call up mom and dad and tell them they've got to move back in...with spouse and kids.

Beloved family pets are more and more becoming an abandonment casualty of this major housing crisis that has even the government running in crisis mode. Many states, including Connecticut has its' Governor trying to turn off the gas tax in order to help cash strapped citizen's.

It's a seemingly, no-win vicious cycle that has families and individuals relying on and quickly running through their emergency 'rainy day' fund just to get out and earn a living.

Everyone is holding out for this gray cloud of disappointment to leave so that they can get back to where they were. From the looks of it, the 'doom and gloom' reports many experts are citing and verbally spinning, it doesn't look like we're any closer to a quick-fix solution.

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