Dear Granddaughter and Esposo

You are very much like your Father; shining it on the outside and keeping all the frustrations, worries, concerns about you and your family’s future inside. And, also like your father, you assume that because you don’t share your worries your extended family does not know about them. Now, indeed, I don’t know the details,but I have lived long enough to know that the present financial condition of our society, raising a family, maintaining a home and trying to live up to your own and every one’s else expectations must be enough to keep you awake nights wondering what the best path to peace and happiness is for you and your family.

I am assuming that finances are your biggest and most immediate concern given the state of the housing and employment picture. This morning on the financial news I heard again that the housing prices will continue to decline for another 1.5-2 years. Not good news for you given that the price you paid for your home was at the top of the market. If the employment picture were better perhaps one could cope with the housing decline. I heard a few weeks ago that a young man, about your age, a policeman with a wife and three children, decided to “walk away” from his home because the value had declined somewhere around $200,000. With the help of an attorney he was able to get out from under the load that was no longer possible for he and his family to afford. Sure, they made the decisions to take on the debt and have to take some responsibility for that, however, like most people of your generation you have been duped by our corporate world that if you buy and make the people at the top rich then you will also have a “good” life. Obviously that is why my political leanings are to the Left – very far left, and having grown up in a Union family I learned early on that the CEO’s and owners of companies care only about themselves and not the people, like ant colonies, who work to make them rich.

So, my intent in writing this to you is to let you know that perhaps consideration of a major change in your lives in terms of your finances would be something to consider. You would have our support. This is the first depression since the 30’s and the usual mind set about how we conduct our daily lives, pay our bills, etc. has been set aside. Bankruptcy is no longer considered a stigma given the present conditions.

Life is full of experiences, some great, some awful. As you know I’ve made many mistakes in my life as have your parents, that is perhaps why we are forgiving. And, lastly, bad things are frequently good things.

Hopefully you will think on and digest this and know that I write only because I want the best for you. I don’t need a response, only to know that you are ok.

Love
Grandma