Boomers . . . and How They Got That Way
Epistle 31 – House Hunting
My “retirement plan” of mutual funds and Florida real estate seemed like a hell of an idea at the time. When it went South without me, we were stuck with two houses whose value was fading faster than my memory. Impaled on the horns of the two-house dilemma, the answer seemed obvious—buy a 3rd house! After all, it’s a buyer’s market, right? Of course, nobody wants to finance the purchase at any price, but somebody has to support the US economy besides the government. I just wish I wasn’t alone.
Actually, we have a real good reason for buying another house. The second job I had to take in lieu of retirement is a 5-hour commute, one-way, and that’s a little much even for someone who spent most of his adult life on the Kennedy Expressway. So, with a little courage and a lot of lunacy, even for a Boomer, we plunged into the abyss, a strange world of foreclosures, lease purchases, short sales, long sales, and even a regular house sale now and then. I always feel sorry for the folks who are trying to sell the family homestead the old fashioned way.
They usually don’t realize that they can barely give it away, let alone get their money out of it. They just want to pack up and move back to Toledo to be close to their grandkids. It’s actually a defensive move so their kids don’t move back in with them, but nobody warned them that their dream home in the Sunbelt would be taken over by the bank, which would be taken over by the government, which would be taken over by politicians from Neptune.
Anyway, back to our grand housing empire. While we are breathlessly waiting for somebody to buy our old house, rent our old house, or just steal away with it in the night, we need a place to hang our hat, so we have spent 6 months visiting every hat hanger in 4 counties. They range from mansions at ridiculous prices to something practical at ridiculous prices. Naturally, we leaned toward the former, but woke up in the middle of the night panicking to think we would actually have to live in it. At our age one of us could be lost for days if it was too big.
Having come to our senses and having frustrated more than one poor realtor beyond human endurance, we are making an offer on a modest home with a gorgeous view. My wife is busily planning the décor while I study the neighborhood golf course. Of course, the bank could still screw it all up by telling me I can’t afford another house, which is probably true, but the banks got me into this mess in the first place, right? The house we’re trying to buy is owned by the bank so it could be a poetic standoff—we can’t buy it and they can’t sell it. Maybe there is justice in this world after all.
We Will Win