Thank you, Bob Scherer [Close to Home, Oct. 12] for talking frankly about home buyers taking on more mortgage than they could afford and how that contributed to the housing crisis.
My husband and I and our young son lived in Ashburn during the heyday of the real estate boom in the "prestigious" McMansion community of Belmont Country Club. We could afford to buy, but because we believed the real estate environment was artificially inflated, we rented our home.
We have always lived and will continue to live within our means. We watched friends and neighbors tap home equity like a bottomless ATM, take luxury vacations, and fill their homes with lovely stuff and their driveways with expensive cars. We kept our old cars and lived with what we had.
Had we known that the government would bail us out, would we have acted differently? No. People who gorged themselves on the bounty of a free market, spent what they did not have and borrowed money they cannot pay back should take their medicine. Let free markets and capitalism do their work. I refuse to pay for these people and their spendthrift lifestyle.
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