American Dream

Inconvenient Truth: Not All Can Qualify for Home Ownership

By John Lillpop
Sunday, October 11, 2009

Given the meltdown of the financial markets and the bursting of the home price bubble, Americans need to accept a new truth:

Not everyone is eligible for the American Dream.

In much the same way as that sleek new $200,000 Lamorghini is not within my financial means, so it is that some Americans do not make enough money, or have enough cash saved, to purchase a home.

Others have poor credit, too much debt, insufficient income, or lack satisfactory employment history and stability.

To those who believe that they are entitled to a home, a notion fostered by socialists like Nancy Pelosi and most Democrats, another harsh truth needs to be remembered:

Nowhere in the Declaration of Independence, the U.S. Constitution, or the Bill of Rights, are taxpayers obligated to provide anyone with a 3 bedroom, 2 bath home and attached garage. Regardless of race, nationality, or other hardship.

Home ownership is not a Constitutional right!

Home ownership is not a Constitutional right!

Unfortunately, federal bureaucracies, under pressure from the Democrat Party and liberal Republicans, have taken a greater interest in promoting minority home ownership statistics than in assuring that mortgages written for qualified borrowers are sound and secure.

Once again, “progressiveâ€