This particular one speaks to a thought that I believe many people hold. I have met plenty of individuals who have literally lived in apartments for their whole lives. It has less to do with the fact that they are not qualified to own their own home, as much they have a fear of taking on more commitment. I am by no means attacking these individuals at all. There are a myriad of other reasons why some may make this decision; however, many people, especially those leaving in the inner city, don’t believe that they are capable of being home owners.
The economic downturn didn’t make things any better. As a matter of fact, it made things much worse. It did nothing but prove the worst fears of renting potential home buyers. There is no adjustable interest rate on your rental unit. If the price gets too high, then you can move into a lower priced unit. It’s a virtual impossibility to get upside down in your apartment; moreover, even if you could, why not just move? There’s a much lower risk in renting and in most people’s eyes there’s a cozy comfort zone in it.
For some strange reason, the education system thinks it is important for me to know all of my states & the corresponding capitals, yet learning how to use my credit effectively is left off the curriculum at all 13 levels. (Hold that thought as I will most likely re-visit this point at another time) So unless your parents are financially savvy (and most of the population’s parents are not especially those in the inner city) you will live very similar to the situation that you grew up in. This creates a perpetual circle of folks who will never have ownership.
I think that it’s important to change the mentality of those who are handcuffed to the idea of being permanent renters. While it is a convenience to be able to rely on the landlord to handle most repairs, owning a home will generally make most people take more pride in their dwelling. The chicken bone that you would usually put down the garbage disposal and wait for the landlord to fix will now get its rightful place in the trash. The mentality that, “this will just become someone else’s problem later,” will not be as prevalent for home owners; thus, the children will be raised in a similar fashion as well.
Not only is a home the single biggest investment that most of us will make in our lives, it is one of the most important. Your home can be used as an investment vehicle in a variety of ways. (Yes, the economy stinks worse than a Jennifer Aniston movie, but your home is still a very viable investment tool depending on where you buy and the type of deal you get on it.) There are a lot of programs geared towards first time home buyers. Whether it’s through the federal government or other grant programs, home ownership can go from a distant dream to a reality.
Even though we live in a capitalistic society, many people never realize their full potential in it. But it is up to the general population of tenants to step out of their comfort zone and look into home ownership to make this cartoon a good joke as oppose to a painfully truthful satire.
