Home ownership is an American dream. Why even Patrice Cullors, an avowed Marxist Communist and founding member of Antifa, was the recipient of millions of dollars for her political positions, and so she bought very expensive Los Angeles real estate! No surprises there!

What’s a surprise for those who do not stay on top of the political/economic situation is just how litte influence the average American actually has. Evil people hover over Americans and the market place wating to pounce on those who react to TEMPTATION!

What is the temptaion that traps so many people? It is the desire to own (have) something that you cannot pay for, but must borrow money and go into debt to “own”, and by “own”, I mean to have the use of while the title remains in the hands of the lender. The deal you have with the lender – be it on a mortgage or a car loan is clearly articulated in writing, and you have to sign that agreement if you want the item in question.

People sign that agreement most of the time on a wing and a prayer. They don’t have themselves in a position to protect their interests. Historically, people saved money, until they were in a position allowing them to move forward on a major purchase. Historically, a 20% down payment on a house was required, and as such, there was no need to pay for “mortgage insurance”. Mortgage insurance runs between $0.03 and $0.07 per month for every $1,000.00 borrowed. The insurance rate is based upon the insurance company’s risk i.e. the borrowers length of employment, nature of work, amount of down payment etc. So let’s just split the difference and say $0.05 per $1,000 borrowed.

The average house is a little over $530,000. A buyer can put down as little as 3%, or $16,500 approximately. That leavea a balance of $513,000 that must be borrowed. Multiply 513 X $0.05, and you’re talking $26.50. Only a borrower who puts down only 3%, is going to pay more like $0.07 per $1,000 per month, and that comes to almost $36 per month or $432 a year.

This all sounds manageable until you take into consideration that your electric bill goes up $75 a year, the food bill goes up $800 a year, other insurance costs go up another $400 a year, and you have to buy a car and finance it, and that costs you another $600 a year, and then the HVAC system breaks, and you now have a $20,000 expense for which you have no cash. Not to worry, the HVAC company will finance it – nothing down and just $200 a month for the next 15 years. Now you have an increase in annual expenses of over $4,200 a year, and your boss only gave your a raise of $3,000 a year. You now have a net loss of revenue of $1,200, and that doesn’t include other price increases your experiencing.

You’ve been living from hand to mouth and not saving, so you start putting expenses on the credit card. Then you can’t pay the credit card, so you get another credit card, get a cash advance and pay off the credit card you couldn’t pay off with your cash advance which is now another debt you owe. No wonder the Bible says the borrower is slave to the lender!

This writer’s daddy always said to “live below your means”! He also said “Pay yourself first.” Put another way, save money and don’t spend what you don’t have!

If that advice is not followed, then the house you bought and turned into a home will be taken from you as you see in the video link at the top of this page. A house is strictly material and has investment potential for those who want to own them and rent them. When someone buys a house to live in, they put love into it and have memories in it, and it becomes a home which is much harder to give up.

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