[StBernard] I still don't understand the plan and buy-out

[Westley Annis]

Regarding CK's statement "Very few people are in your position and are
confident enough to say that they are going to rebuild where they are, live
in the house forever, and never have to sell it. No one I know ever buys a
house with that attitude."
 
When my husband & I bought our home, we intended to stay in it well into
retirement.   We were a young married couple and the area we bought in had
everything we needed through all phases of our life.  A church & catholic
school nearby, stores, restaurants and wonderful neighbors and friends. Even
though all of these things have been changed (some temporarily, some
permanently) we still plan to remain in our home.  Initially building and
now rebuilding was not done with resale value in mind. 

Syl
 
-----Original Message-----

Gaby,
    I understand your emotions about your home.  I have felt the same sense
of loss of the family home -- where I have such good memories of my children
growing up -- as anybody. I do think, however, that our elected officials
have an obligation to look at the economics of the situation, and to give
people enough information so as to allow them to make a decision from a
financial perspective.  For many people, their home is the biggest and most
important investment that they will ever make.  Many want to use that
investment for their retirement, or to leave to their children.  I don't
think many people want to invest $150,000 or more into a home when it is
almost certain to lose value -- maybe even be unmarketable -- when the time
comes for it to be sold.  Very few people are in your position and are
confident enough to say that they are going to rebuild where they are, live
in the house forever, and never have to sell it.   No one I know ever buys a
house with that attitude.  Virtually everybody considers resale value when
they buy a house (you are essentially buying a house if you put your money
back into your existing house).  Most people would chose to put that money
(representing years of hard work) into a home somewhere else, in St. Bernard
or not, where they could eventually recover the $150,000.  Even though many
of us would like to view things from a more emotional perspective, for some
of us, the economics factor in heavily, and I would expect the economics of
rebuilding should be figured into any governmental plan.  
                        CK