Greed

One aspect of our currently shitty economy that really bothers me is the mortgage crisis. I hate the greed of the banks to approve huge mortgages without even check people's income. I hate the greed of the people who needed homes that were obviously out of their price range. Sure, a lot of people got hurt when the home value decreased or when when they got laid off. They could have planned better, but it was largely unexpected. Others couldn't pay when the variable interest rate went up. They should have better understood the deal, but they couldn't have known exactly how high the rate would end up being. But others admit that they couldn't pay the mortgage to begin with. What were those people thinking? The only explanation to me is greed and materialism. They wanted a nice house and were too blinded by that desire to think it through.

Today, I read this story in The Washington Post. Apparently, the biggest home built by the TV show "Extreme Makeover: Home Edition" is being foreclosed on. How could that happen? The family didn't have to pay a mortgage. They were given money to pay the property taxes. They were even given money to put their kids through college. They should have been happy and financially stable. Why then the foreclosure? Well, apparently, they used this gift home as collateral on a $450,000 loan that they now can’t pay. Pure Greed.

Now, I must admit that I’m a quite the consumer myself. I’m often buying stuff I don’t need. I’m trying to be better about that, but it’s how I was raised. With stuff. However, I was also raised not to go into debt. I use credit cards, but I pay them off monthly. My car is currently paid off, which is why I don’t intend to buy another for a while. Sure, I used to have a mortgage. (It was pure luck that I sold before the market crashed.) But I had bought a home that was no bigger than what I needed (an 800 sq. ft. condo) with a mortgage payment that left plenty of extra income for other expenses as well as discretionary spending. I always “pay myself first” by having retirement and other savings pulled out of my bank account before I even see it. I have lots of clothes, but few are designer (unless bought used or on serious sale). I have a modest car.

I’m not a good representative for minimalism. (Something that, largely for environmental reasons I’m working to change.) But I can be an example of living within my means. And I'm proud of that.

Too many people look at debt as a fact of life. I like to look at debt as a last resort for something important that I couldn't otherwise have right now: an education, a home. And even then, just because I can get a loan doesn't mean I should take it. If you are going to sign up for a 30 year mortgage you should start by making a rough financial 30 year plan. You say you can't think that far ahead? Then you shouldn't be taken on debt beyond time periods you can imagine.

People say renting is throwing money away, but those people must not be looking at the truth in lending page of their mortgage document. Interest payments are throwing money away too. At least with renting I can walk away with 60 days notice.

Shameless Self Promotion: Silver Spring Stage One-Act Festival

My play "Claire's Departure" will be performed August 21-24 as a part of the Silver Spring Stage One-Act Festival in Silver Spring, Maryland. The play premiered at the 2007 Pittsburgh New Works Festival.

Silver Spring Stage 2008 One-Act Festival information

I guess I’m a Bikram convert

I started doing Bikram yoga about 3 weeks ago. Hot yoga. 90 minutes in a 105 degree Fahrenheit room yoga. Despite recommendations to use my new member unlimited pass to take class 4 times a week to start, I only go about twice a week. I like it, but days I go to Bikram have little opportunity for anything else. I work all day. I take the train to the studio. I work out. I shower. I take the bus home. By that time is 9 PM, and I’m exhausted. I make myself a light dinner and go to bed. Still, I like it. I’m just not obsessed with it.

Or so I thought.

I had a Dramatist’s Guild meeting on Monday, so I went to Bikram on Tuesday. It was a good session. Normally I struggle to get even during bow pose, but on Tuesday I got a long even extension. I felt good. I cleaned and repacked my yoga gear and brought it into work with full intentions of going Wednesday night as well.

Wednesday was a busy day at work. That sort of stress is the sort of thing that’s nice to follow up with something as cleansing and relaxing a Bikram is for me. (After it’s over that is. At the time it is not relaxing. It is hard work.) Still, I was tired. Plus it was extremely rainy, windy, and nasty when I went to work. It was a pain getting to the train. I decided that I just wanted to get home.

But when I got home, I immediately regretted not working out. I decided to do one of my old yoga DVDs. I couldn’t find it. I think I’d loaned it to someone. My husband handed me one of the yoga DVDs he got from his sister, so I decided to give that a try. I had to stop after twenty minutes. It was just too annoying. A lot of slow, sleepy, “focus on your breath” stuff. Long repeated sequences always returning to downward dog. Boring and slow and cultlike. (The guy and his followers were all shrouded in white.)

I was upset at myself for skipping Bikram. I was still tense. I did 10 hard minutes on the Versaclimber until I sweat almost as much as at Bikram. I took a shower. I felt somewhat better.

The nice thing about not going to Bikram was being able to spend the evening with my husband. We watched a movie. We drank wines. These are the things I don’t like about nights that I don’t get home until after Bikram.

However, last night taught me what a significant impact Bikram can have on how I feel, and the converse reaction to skipping it. I wish I could go tonight, but I’m going to see a friend’s show. (It’s having a life that keeps me to 2 Bikram classes a week.) But I’m going tomorrow morning before my 4th of July plans. Would it be easier just to spend the morning sleeping in, watching tv, and making my pasta salad? Of course. But I will feel so good for going to Bikram I can’t resist. I guess I’m addicted.