Among them: Lynn Powers, 39, a Bethesda, Md., resident who describes herself as a “liberal Democrat” who has been hardworking, prudent and responsible — and now feels “like a fool.”
“We were in the market,” she says. “We put out eight bids and got outbid every time. It was very upsetting for us. I want to see some accountability and responsibility across the board. The only way for me to have an affordable home, and I’m not looking for a McMansion at all, is if we let the chips fall, in a sense. This is still the bubble — the prices have to come down. You can’t just subsidize some of the people. I don’t know how you deleverage. It is going to be painful, but this is also hurting the people who behaved responsibly.”
What does she mean by “responsibly”?
“People who didn’t overbuy. Who stuck to their guns. Who read their contracts,” she says. She and her husband wound up buying a 600-square-foot studio and moved to a rental when they had their daughter, now 18 months old.
“My husband and I paid for our cars in cash,” she says. “We have no credit card debt. We have no student loans. I don’t buy Starbucks, but that’s because they’re non-fair trade, nonenvironmental.”
When they tried to buy a house, she said, “We just felt outgunned.” And now, she says, “I feel very outgunned as a citizen.”
Does she know she's channeling the "leave it alone liquidationists", the enemies of Hoover, FDR, Bush and Obama? She's an Austrian and she doesn't even know it.
Another Maryland resident concurs: “I am an Obama supporter, campaigned for him, baked cookies for him; my husband and I are Democrats all the way, but this is the issue that gets our goat.”
Echoing Santelli’s complaint, a Silver Spring, Md., mom who did not want her name used adds: “I’m not sure why we should work and pay for someone else to have a granite countertop or an extra bathroom.”
When asked about people who hadn’t overreached but had lost their down-payment money when the value of their homes had dropped, she replies, “We put money in a 401(k), and we lost that money, and no one is going to give it back.”
So much for a level playing field, opportunity for all, a free and fair economy. Instead we get unfree, unfair, and debt and taxes to pay for other peoples' stupidity, hubris, and greed.
Bush/Obama, the Bubama Plague. Hopefully it won't destroy one-third of our GDP. There are, of course, plenty of vaccines.
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