F -

I was reading yet another article on the plight of the poor poor IHOs (Idiot Home Owners) who can't make their payment. Wahh wahh wahh the sob stories go. I bought a $600K house on a $40K salary and holy shit, what do you know, I can't afford it. Oh please let's elect Obama so he can solve it for me. (OK the last part wasn't in the article, but you know a lot of these IHOs are thinking it).

One of the stories however was about a teacher who bought because (of course) now is a great time to buy. And she bought with a $20K grant from the government for being a teacher. So I did a little googling and this is a nationwide phenomenon. If you are a teacher and are hell bent on destroying your financial future by buying an overpriced piece of shit house, the gubermint will write a check on your behalf. Here is one example from Chicago:

* Up to $1,000 off closing costs
* Half point discount
* No origination fees
* Fast loan decisions
* A dedicated team of home loan consultants ready to serve you
* 100% Financing available
* Illinois Housing and Development Authority (IHDA) Programs

100% financing. Great idea guys. Since as we have learned from the past two years, nothing is more stable than a depreciating house purchased with 100% financing. It gets better though. If you are a teacher, making $32K a year you also get:

- Flexible credit scores and low credit score minimums
- up to $3,000 towards closing costs

In other words, if you barely make over minimum wage, we'll give you 100% financing even if you've never made an on time payment in your life. But since you are a teacher - and a member of the larges union in town, aka a guaranteed Democrat voter - we'll give you everything and anything you need. And in a year or two as you are about to foreclose, we'll step in and throw some more money at you.

Teachers are a special breed of people you see. They are the ones that indoctrinate our young minds with a special blend of anti-war anti-American socialism/communism, green studies, 'alternative' lifestyle choices and a heavy dose of 'do whatever the fuck you want if it makes you feel good, anything to keep your self esteem up'. And if they have time they might teach the kids how to read and write.

Putting aside the politics of it, teachers know what they're getting into. I am so sick of teachers complaining about pay. Teachers have been paid their current salaries for decades. Yet every year we hear the same stories about teachers who can't afford this or that. It's like teachers were making $150K a year and all of a sudden the pay dropped to $30K a year. Sorry teachers, that's the deal you signed up for. Don't take a $30K a year job and then demand to live the life of someone earning $75K. You make too little money to afford a house. So either rent an apartment you can afford or get another job. Don't come begging to the taxpayer hat in hand like a street person asking to be subsidized.

DISCLOSURE: My wife is an ex-teacher and is fully aware of my views about the teaching world. She is one of the 16 non-Marxists to have ever taught in a publik skool. If and when we ever do decide to buy another house, I hope for her to take advantage of one of these programs. If you can't fight them, join them.