Are YOU a Part of the Entitlement Generation?

By
Real Estate Agent with Remerica Integrity, Realtors®, Northville, MI
http://actvra.in/DG5

Are YOU a Part of the Entitlement Generation?

Quick rant here, people.

I've been hearing for the last few years about the "entitlement generation." In fact, I totally agree with it. (call me, I'll tell you my personal situation about it)

I understand when a homeowner has a situation where they can't pay their mortgage anymore. Hospital bills, loss of job, etc. play a part in that.

What I'm talking about here is the people who happen to Owe more than their house (or condo) is worth, and has decided that they just won't pay for it anymore.

Where, in the closing documents that you signed, does it say that the home/condo that you're purchasing will always go up in value?

If you can't make the payments for a reason, this isn't for you.

If nothings changed, and you just want to stop paying for something that isn't the "value" you thought it was, then this is totally for you.

Suck it up, people. Pay what you agreed to purchase.

Karma's a bitch.

close

Re-Bloggged 2 times:

Re-Blogged By Re-Blogged At
  1. Lenn Harley 07/11/2012 03:06 AM
  2. Ernie Steele 07/11/2012 03:45 AM
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Rainmaker
534,363
Betty & John Knowles
REALTORS® - Springfield MO Real Estate
Coldwell Banker Vanguard - www.teamknowles.com

Well said Eric,  You have only voiced what some many of us have wanted to for a while now!  Thanks

July 13, 2012 08:39 AM
Ambassador
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Jason Sardi
Your Agent for Life
Auto & Home & Life Insurance throughout North Carolina

Glad to see it is still up and running:)

July 13, 2012 12:48 PM
Rainmaker
506,714
Than Maynard
Broker - Licensed to List & Sell - 405-990-8862
Coldwell Banker Heart of Oklahoma

There is not a clause in the contract that says: "If you don't like or it doesn't increase in value, please just walk away."

The law states you can file bankruptcy and you can walk away per the LAW, but not per the contract. Yes, those are two different things!

It has become too easy for people to say "It isn't going my wayt, oh well, I'm out of here!"

July 14, 2012 03:00 PM
Rainer
27,028
Amy Champion
MetroTex Association of REALTORS

I'm a part of Generation X, the generation immediately preceding the Entitlement Generation. =D

I'm also a proud Metro-Detroit native (Royal Oak) and very warm transplanted Dallasite. Most of my family is still in the Metro Detroit area. My uncle loves to buy homes in Macomb and Oakland counties to renovate and re-sell. He told me a few years ago - 2007ish - that people are just walking away from their homes. Sometimes, a person could qualify to buy something else without selling their existing home. They close, move in to the new house and just abandon the previous one. It will foreclose eventually, but the people don't care because they've moved on. It really shocked me. It felt like "playing the system."

July 25, 2012 02:54 PM
Rainmaker
267,457
Kasey & John Boles - Jon Gosche Real Estate
Boise, Meridian, Ada/Canyon/Gem/Boise Counties
Jon Gosche Real Estate, Boise ID

There is certainly a different mentality these days than there used to be.  And, I think as the younger generations continue to grow and bring about other generations this will continue.  Times are a changing. -Kasey

November 25, 2012 09:23 PM
Anonymous
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Rainmaker
537,977

Eric Michael

Metro Detroit Real Estate Professional 734.564.1519
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