Bankruptcy

The meaning of the loss of home

By Debb Thorne

When Bob Lawless posted yesterday (April 17) the table showing the daily filings for March, 2008, it got me thinking about what exactly those numbers mean, and specifically, about the families who are represented by those statistics and in the middle of financial crises. And while I recognize that not all, or even most, of these filers are losing their homes in the process of bankruptcy, some will be. And this fact really tugged at my emotions.

Here's why: A couple weeks ago, a colleague and friend gave me a wonderful book for a birthday gift--"Geography of Home: Writings on Where We Live," by Akiko Busch. Busch beautifully describes the history and meaning behind many places within the home--from the front door, to the library, to the kitchen, to the garage. As I read the book, I began to better understand what I, and I would expect most of us, intuitively know: our homes are so much more than shelters.

Whether it's true or not, our homes represent hope, the American Dream come true, safety, an environment where we can nurture ourselves and those we love, a place where we can welcome and spend time with our friends, and a place where we can escape from so many of the nagging demands of everyday life--and maybe most important, and as my dad would say, they are places for making memories. And for each person who reads this, home probably represents something more, something different, something unique to your own life.

When I combine what I learned from Busch's book with the bankruptcy rates, I am forced to think more deeply about just what an awful experience it must be for those families who must sacrifice their homes in an effort to escape their debts. And it makes me question the integrity of a system/society that seems relatively OK with this.

Full post as published by Credit Slips on April 18, 2008 (boomark / email).