Fiscal Responsibility Starts at Home

For the most telling chart on our current financial mess click HERE.

I find this most interesting primarily because I haven't seen it before.

Irresponsible buyers, greedy lenders, and a whole lot of money that never existed had caused people to think their homes were "worth" more than twice what they were actually worth. It's like my baseball card collection--just because a Barry Bonds rookie card is supposed to be worth $75, doesn't mean someone would actually shell out $75 for it.

So, the long and short of it is that since home buying and selling is such a big industry (real estate agents, lawyers, repair companies, lenders, etc.) and since most people couldn't get for their house what they paid for it, there's a lot of trouble... for anyone who bought a house in the last 5 years and wants to sell it in the next 5 years. 

If you bought yours before then or never want to move, and you can actually afford your mortgage (another problem all together)... then stop checking zillow so often.

Also, everyone should not own their own home... nor should everyone stay in the home they never should have bought in the first place. Save for a down-payment and rent please.