It is seriously driving me crazy how much I see and hear the word "homeowner" in the media, as if America was full of 'em.
Very few people actually OWN their homes. It's the nation's dirty little secret. And with HELOCs, even people who used to truly own their homes are now indeed owned.
So HP salutes the true OWNERS. Yes, they still have to pay their property taxes or lose their homes. Yes, they still need to mind community or association regulations. So even OWNERS are not truly free.
But they're as close as they can come to that ideal.
Here's a funny piece from the past that reinforces my message: homeDEBTORSHIP is not homeOWNERSHIP. Enjoy.
Minneapolis, Minn. — Showing no ill effects from a weak economy, housing numbers released by the National Association of Realtors today showed that a record 75 million Americans are now participating in the mass self-delusion that they, and not their banks, actually own their homes.
"Home ownership is the fulfillment of the American (banking industry's) dream, and we are proud to announce that more Americans than ever have been able to (help lending institutions) achieve that dream," said NAR President Richard Schicter.
After putting 20 percent down on a $235,000 house yesterday morning, Minneapolis pediatric nurse Stephanie Doogan officially became the 75 millionth American to take part in the widely accepted fantasy.
"Ever since I was a little girl, I've wanted to (deceive myself into believing I could) be a homeowner," said Doogan, 35. "Well, look at me now! Me, little Stephanie Doogan, I actually have a place I can call 100 percent (minus 80 percent) my own!"