For some reason unbeknownst to logical people, there are countless unemployed people out there thinking they can take advantage of this recession and buy themselves a “cheap” house. It’s as if they want to capitalize on the whole “our loss is your gain” circumstances with foreclosures – but they’ve temporarily forgotten they themselves have lost their jobs, no longer have a suitable income for obtaining a mortgage, and can’t afford property no matter how cheap it might be while they’re busy collecting unemployment checks.
Having no viable means of buying a house of their own doesn’t deter the unemployed from searching foreclosure sites every day, tracking listings of desperate sellers who continue to lower their asking price, and going to open houses in hopes of at least scoring some free hors d’oeuvres. The unemployed convince themselves that now is the time to buy when mortgages are lower than what typical rents might be – even when they’re currently living rent-free with their parents. They also want to take advantage of the stimulus plan for first time home buyers, and will share this with realtors showing the various properties they’re visiting. But, when asked if they’ve been pre-approved for a loan, or how much they’ve saved for a down payment, the unemployed will be intentionally vague so as not to seem like they’re not serious about buying because in their heads, they’re serious.
Despite living in squalor during unemployment, being content with crashing on a friend’s couch, and becoming used to living a more modest lifestyle, the unemployed, while fantasizing about buying a home they can’t afford, will not settle for anything less than the best for their “prospective” home. Once they have their eyes set on stainless steel appliances, granite countertops, and extra rooms for the guests they envision themselves having, fixer uppers and anything remotely close to what they might actually be able to afford are out of the question. When the unemployed finally find their dream home, they usually walk away with crushing defeat when they’re rejected on the basis of having no income. Time and time again they suffer from the agony of having their house slip away but rather than look for a job and face the reality that their favorite neighborhoods are still too expensive, the unemployed head to their local liquor store for some memory-wipers (booze) and a lotto ticket. The unemployed will vow to themselves that they won’t bother house hunting again until they can afford one, which of course will be after they’ve won the lottery.
Tags: avoiding reality, buying a house while unemployed, foreclosures, moving back home, recession, unemployment check
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Unemployed or not, people really do love fantasizing about buying a home (or some other form of luxury). I know I want a big house somewhere warm and a car to match!
Me too, I like to fantasize about buying a hose, unemployed or not. It’s fun, and hey, sometimes dreams do come true!
Whats so wrong about fantasizing about some day having my own home? I certainly don’t live in “squalor” or crash on a friends couch as you think most unemployed do..you’re pathetic! I have a beautiful place to live & a great vehicle to drive…i’m one of the lucky unemployed i guess. You need to get your facts straight & get your freeking head out of the clouds! Quit being so judgemental….you may be unemployed one day as well!
My fiance and I want to buy a home and we have been looking as well. He is unemployed right now but I have 5 years strong on my career and I feel we shouldn’t have to wait for him to get a job in order for the BOTH of us to be counted on a mortgage. Unemployment benefits is income and and even tho’ one is not technically working, it is a job posting & faxing resumes, sending emails, going on interviews and doing follow-ups daily like he does. To mention filling out applications and doing questionaires..it’s brain racking but it has to be done. So don’t knock those hard working people who just happen to lose their job cause there are many others like my fiance who is not a lazy couch pototoe. Just like Ruth said, you may be unemployed one day as well.
Crystal,
I am in the EXACT same boat as you and I completely agree with what you are saying. My fiance and I were in the process of looking for a home when he got laid off. We’ve already been pre-approved and are still going to try and go through with this. He was hard working and unfortunately because of cuts lost his job to no fault of his. He is busy searching for a new job – filling out applications, applying online and making sure is resume is in tip top shape. I agree with both yourself and Ruth not every unemployed person is a couch potato and I have a good feeling his unemployment won’t last long. We are getting married in 4 months and we want to have a home to call our own at that point!
just because a person is collecting umemployment doesnt mean they are lazy. i lost my job in november 08 and decieded it was my time to go back to school full time to get a better job. and the government is backing me up. they pay me unemployment plus i’ve qualified for grants to pay my tuition. at this time i do live in an apartment and am looking to buy my first house right now. im lucky to have my parents co sign and we are waiting right now for the banks approval.
I almost thought this was a joke when I began reading it … and I honestly cannot fathom what environment this individual exists? When corporate greed has corrupted business in such a manner that NO ONE (other than possibly government civil service employees have a some small measure of job security) is guaranteed they will have a job when they arrive at work. Why would this writer presume the unemployed is lazy or was negligent in accumulating a savings prior to becoming a displaced worker? This is truly a shocking ignorance … and its sad.
After 24 years working at the same job, working my way up to the top of my local branch, I was put in charge of shutting it down and laying off all of my employees including myself. I used my severance check to pay off all of my debt and now I use the unemployment benefits I have paid for all my life to survive and pay my way. Screw the originator of this feed if he/she hasn’t put in the time to provide for his family like I have all of my life. If I can afford to pay rent with my benefits (and intend to pay for it after I find a job), why can’t I purchase a home during these times where low interest rates and goverment tax credits make it less expensive than renting? If any intellegent readers are out there that can suggest the path I should take, please feel welcome to do so.
Are you kidding? You are apparently ignorant. I think instead of worrying about people who aren’t working you need to educate yourself and get a compassion shot. I am a single mother who has raised and supported 2 children ALONE for 11 years.Last December I lost my job along with my coworkers as well as my health insurance. How dare you say we are lazy. And living on someones couch…I THINK NOT. I have my own apartment…2 bedrooms in a gorgeous section of Long Island on the North Shore.I also have 2 cars, one for me and one for my daughter. To compensate for the situation I am in a smaller apt,my daughter drives an older car, so my car is the only car payment to make and I shopped around for cheaper car insurance….Get your facts clear buddy boy because for what I pay in rent I CAN pay in a mortgage.
What a judgmental piece of garbage. Dreams do come true and heaven help the author in case they ever find themselves in asimilar boat.Nor do all unemployed sit on the coach and drown their sorrows away.
While he had a job we paid down debt got our fixed expenses very low. Still have our own home ( starter home granted but it is ours) and we are right side up on the mortgage > We have a paid for vehicle in good shape.
He is getting certifications, additional training in his field, volunteering and continuing the job hunt daily. We planned for the worse and I would never ever step on anyone’s dream.
By the way author how long could you live without a pay check??
We still have savings because we planned paid down debt and very low fixed expenses.
Geez people, it’s just a joke. All the author is trying to do is give unemployed people(like myself) a chance to have a good laugh and make light of our unfortunate situation, in between filling out applications and sending our resumes out, then sitting around waiting for said jobs to call us back. Even though we know they won’t…