From CNN Finance, we have Les Christie writing about Help! Home for sale - the Williamses.
Karen and Jerod Williams do not act rashly especially when buying houses. They tried to minimize their financial risks. And they live in one of the most affordable housing markets in the country, which, again, decreases their risk.
They bought a new home early this year, at a time when the housing market in Huntington, Indiana, their home town, was purring along, slow but steady. They then listed their old home for sale, but shortly afterward the market stalled and they haven't found a buyer. It's been nine months.
So now, the family, burdened with the work and expense of two homes, are at the limits of their budget, even though they both make good salaries. He's a machinist and she a manufacturing engineer.
"We didn't think it would ever take this long," says Karen. "If we had, we would not have bought the new house."
They have three young children Darcy, 4, Sloane, 3 and Nolan, 5 months, to support and school debt and motor vehicles to pay for. At the end of the month, there's nothing extra.
"Any emergency may lead to bankruptcy," says Karen.
The family has already suffered through one such crisis; an emergency c-section needed when Nolan was born last July. Karen had scheduled a six-week maternity leave but she needed a full eight weeks to recover.
"I hadn't planned for the extra two weeks and it really set us back," she says.
What kind of idiots are these that two extra weeks can push them into bankruptcy?
And why did they buy a new house without selling the first, or having a contingency clause on the contract?
Most importantly, if they are so hard up, why are they still breeding like rabbits?
And why is CNN wasting time on these losers?
Inquiring minds need to know!
Monday, December 11, 2006
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