I learned a new phrase when I was out in California last week: "Couch Surfing."
As far as I can tell, "couch surfing" started out as a way to describe the practice of crashing on friends sofas around the world as a way to travel without the nuisance of paying for a hotel. There is now an organization devoted to promoting coach surfing as a way to develop understanding around the world.
Language evolves to meet the times, and now couch surfing has caught a new wave. As more and more Californians are tossed out of their homes, I'm told many are taking to couch surfing. They stay for a week or so on a friend or relative's couch before moving on to another home and another. We're talking about middle class families. Since everyone can't shower at the same time, the parents end up getting ready for work at the gym.
I don't know how widespread couch surfing may be. Judging by what I saw in the counties outside L.A. that make up California's Inland Empire, the practice may be fairly common. I toured developments that seemed almost empty. I'm told stray pets have become a big concern. You know times are tough when people give up their dogs and cats.
I think the question to watch in the upcoming election is whether there are enough couch surfers, or people like them, who are scared and angry enough about the economy to demand the politicians do more than the usual stuff when it comes to resurrecting and repairing the housing market.
Comments
You stay a lot warmer couch surfing than you do if you are houseless.
Donnie, you raise a good question. I did not have time in the piece to answer all of them. I reported the 16% figure, because on its face, that seems to me to tell the story that this woman was taken advantage of. I am trying to get her settlement documents so I can write a follow up column.
Tucker,
I was amazed to think people would leave their pets. But I was told and saw that it is happening. A sign of the distress out there.
As for the Katrina comment: I won't defend it. But I will say it was an expression of how deeply Veronica feels about this. I am not about to lose my home, so I can't begin to understand the pain.
Yes, people have to take responsibility for their decisions. But a lot of people in California had a lot of help from "professionals" who were more than happy to encourage or, in the worst cases, deceive people into making terrible choices.
I have more understanding now that I have seen it with my own eyes.
Dear Darren;
I just watched your report on the foreclosures in California. You showed a woman that had refinanced her home from a 7.25% mortgage to an ARM that was about to reset at 16%. It was also mentioned that she was already behind on her payments. This is where I get lost. Most ARMs are extremely low rates for 1 to 3 or more years, then the reset occurs and the rates skyrocket. Hence the upcoming 16% rate. How could this woman already be behind on payments with a lower rate than 7.25% unless when she refinanced she took out a ton of cash. Did she take out money or did she just refinance? If she did take out the money, what did she do with it? You need to tell the viewers this piece of information. She seems to be blaming the mortgage broker and perhaps rightly so, but I also wonder how much blame she should shouldering. Many people got greedy in the refinance game and now they seem to want a bailout.
Sincerely,
Donnie McGean
posted by Donnie McGean at 11:44 PM on 01/31/08
One more comment if I may. The real victims in these neighborhoods seem to be the abandoned pets. Apparently this has become an epidemic problem throughout Southern California. What kind of human being leaves a pet to starve and die in an empty home? Are these the people we are trying to help with Government "stimulus" packages? What a joke.
Good report on the Inland Empire. I can't help, however, but criticize the comments made by the woman featured who compared her mortgage situation to hurricane Katrina. Are you kidding me? "Like Katrina we are awash in water!" The only thing she was "awash" in was granite countertops in her kitchen and a house she cannot afford because of bad financial decisions. I'm tired of the media portraying everyone as "victims" when most have simply lived a life in paradise beyond their means for the last several years. Quit pointing fingers and looking for handouts and accept some financial accountability for crying out loud!