HGTV - My First Place / Property Virgins

HGTV

My First Place

Property Virgins

Have we not learned ANYTHING with the fall of the economy here in 2008? Did the housing crisis not teach us anything? I mean come on! I can't tell you how many times I watched on the news as somone, who couldn't afford the house they were somehow allowed to buy 2 and 3 years ago, is not crying, upset that they are going to be kicked out of thier home, and begging for John Q. Taxpayer (and the US Government) to bail them out.

What happened to the days, like my daddy taught me, when you put 20% of your own money down on a home and only after that did you calculte the mortgage and see if it was something you could afford. And by afford, your payment should be about 20% of your monltly pay, this way you can still pay your taxes, have a car to get to and from your job and put food on the table for the family.

I am really really upset at HGTV promotes the fact that these mortgage companies STILL have these "products" that enable people to put next to nothing down and have large loan payments. What do they think this will accomplish? Another housing bust??? It is very unfortunate, that at a time when the only thing most people can afford to do is watch TV that they would continue to promote poor behavior. I mean, it's good for HGTV, they can sell you a crapy house, when you then have to have fixed up and spend more money at Home Depot; money you don't have so you put your purcase on a credit card, that you can only afford to pay the minimum payment (interest) because your mortage is too big. When does it end!