Blame homebuilders for credit crunch
January 25th, 2010
Blame homebuilders for credit crunch
Every time we turn around they are trying to put the blame on someone else for the way the economy has become. Now people are blaming homebuilders for the credit crunch that we have found ourselves to be in. All across the country people feel that homebuilders have taken advantage of them. People feel that the homes being made are far more extravagant then they need to be. They also think that the homes have not been made with the energy efficiency being taken into effect. A lot of people feel that the homes have outrageous heat bills and that the energy efficient homes that they have been told were being built are not available to them. All the promises that the home builders were giving potential buyers seem to be forgotten. The buyers are getting the homes but not realizing that the things that were promised to them were not there until the bills start coming in. By this time it is too late to do anything about it and they suffer in silence. Not only are the home owners upset with the things that were promised being non existent they feel that the home builders are taking advantage of them as well. People are also blaming home builders for the credit crunch when they see the price reductions in the newspapers week after week. Homes are $349,000 one week and then they drop $30,000 the next. When people see these fluctuations in prices week after week there is reason for them have a lower level of faith in the home builders. They wonder why the homes are being priced so highly to begin with. As a direct result of the people across the country feeling this way, it has caused some of the home builders around the country to feel irreversible effects from the credit crunch. Many have been forced as far as the point of bankruptcy. With the sales of homes at a standstill the home builders are unable to pay their creditors thus resulting in them no longer being a viable company. All the people that are blaming the home builders for the credit crunch are forgetting that the home builders are not the only ones to blame for the state of the economy. People need to look more at the big picture and instead of blaming everything around them, start by blaming themselves as well. We all let things happen to us over the course of our lives and we are all somewhat responsible for the way the nation is now.
