Live fully while you may and reckon not the cost
Major Hogan: What do you do when you’re short of cash Sharpe.
Lt. Sharpe: Do without sir.
Sharpe’s rifles 1993
There are a lot of signs of sweeping cultural change in the United States that I’ve seen in my lifetime, brought on by the me generation of the 60’s, many that their parents and grandparents would have disapproved of but one of the things that if you told me would be the case twenty years ago I’d have called you mad but the change that has struck me the most has been the rise of the reverse mortgage.
For generations the American Dream was home ownership. People worked their entire life for that goal and once the home was paid off it represented a solid piece of wealth that nobody could take away from them. Once you owned a clear home the possibilities were grand. You could sell it and move to a bigger or better home largely paid for by the sale and by working hard own it clear in a much shorter time, You could leverage it for a business that would, again with hard work, not only pay for a home but mean not only your home but your livelihood was not dependant on others. It could be passed on to one of your children or even a grandchild with the understanding that they would handle things you couldn’t while you were alive, or if all of your children had their own homes upon your death it could be sold and the profits split among them.
Of course this meant sacrifice. Maybe you didn’t get that big TV that you wanted, or that deluxe grille. Maybe you went to a local pond or beach on a family trip instead of an expensive vacation. Your kids didn’t have the latest game system but they had money in a savings account that you could give them when they were older. You didn’t have to have everything now, you got ahead and enjoyed what you had.
It was the judeo christian ethic at its finest celebrating work and temperance and the well-being of others.
In other words you worked hard not only to have that real property not just for a place to live but for the future of your family. You did without extra comforts for your family. It wasn’t all about you, it’s about them.
Consider instead the reverse mortgage:
A reverse mortgage operates on the exact opposite principle. Rather than building up equity that can be passed onto a future generation you are using your home to build up debt to provide either additional comfort or to get out of a current situation. Rather than something to pass on to your family your house passed to a creditor unless of course your heirs are willing to inherit your debt.
It comes from the idea that you wanted that big screen and the package with 1000 channels. You’re going to get that ultimate smart phone. You’re going on that expensive trip and eating out every chance you can get. Why setting for coffee when you have that triple mocha cappuccino. Who cares if there is anything for the children or grandchildren what did they do for you? Charge it now and worry later and if you can’t pay it off or I still want it when I don’t have the case anymore, the reverse mortgage can do the trick
It’s the exact opposite of the judeo christian ethic and the ultimate expression of the “Me” generation.
You worry about your present. You DESERVE those extra comforts now and you certainly don’t need a place to live once you’re dead. And why is it up to you to worry about those children or grandchildren anyways, presuming you if you have any, can’t they take care of themselves like you did? It isn’t about them, it’s about you. Future generations aren’t my problem it’s all about ME.
This might seem like a small thing but it’s what secular progressive culture is about, it’s about me, it’s about now and when it’s all about you, nothing else matters. It produces a group of people happy to mortgage future generations for their own immediate gratification.
This is the fruit of the secular progressivism of the Me generation. An army of Veruca salts.