Wine Racks Are Always There With Some Good Wine
For some folks, there’s nothing like moving into a new house.
It’s something they only do but a small amount of moments over their lives, and even if they are simply renting it.
A house just occupies that mythical place in the American imagination.
In Europe, owning a house would be a bit of a luxury, however in America owning one seems totally normal – so much so that not to even live in one would feel downright anti-social!
In fact, that is why even renters will likely pull out the wine bottles from off their wine racks and commemorate move-in day, toasting an event that is at once normal and extraordinary.
For a house in America is supposed to be a home, a spot for settling down and taking roots, and even if one is only renting it’s at least that much closer to fulfilling the American Dream.
Or so things look: enter the great housing bubble of fin-de-siecle America.
One can solely imagine how many bottles were pulled from how many wine racks over the country in celebration of finally owning a home.
According to some economists, extra capital had to find an outlet, leading to easy credit lines that made a house available to virtually anybody who asked for it.
No money down?
No credit?
No worries!
Or so announced the adverts.
In newspapers, on lamp poles, over radio and television.
Even bad credit was no hindrance.
All things considered, the government itself was officially pushing home ownership as a societal good.
However the bill’s due.
The massive Ponzi Scheme of restructured bad debt from subprime mortgages has flattened, dragging the world economy with it.
Seems like the good times were nothing more than just a big financial bacchanal motivated by wine and wine racks, as it were.
For many, the American Dream remains just that, a dream, while for others, who have felt it, it has now become a veritable nightmare of debt, falling property values, and foreclosure.