The Parable of the Real Estate Agent

One day while teaching, Josh was asked, ”Teacher, what do the cities of Michigan gain when their elected officials are replaced by financial managers who can’t manage the cities any better than the elected officials could?”

Josh spoke thus:

A real estate agent was talking to a homeowner.

“I’ve found you a house,” the real estate agent said to the homeowner.

“I don’t need a house,” the homeowner said to the real estate agent, “I have a house.”

“This is a bad house for you,” the real estate agent said to the homeowner.

“I like this house,” the homeowner said.

“This house doesn’t suit you,” the real estate agent said.

“I think this house suits me just fine,” the homeowner said, “I’m happy in this house.”

“You can’t afford this house,” the real estate agent said.

“I already bought this house,” the homeowner said.

“But your mortgage payments are too high,” the real estate agent said, “You bought the house before the real estate crash, and you’re paying more than the house is worth.”

The homeowner said, “I know what I paid for the house, and I know what it’s worth, and I know what my payments are.  I choose to stay.”

“But you can’t stay,” the real estate agent said.

“Why can’t I stay?” the homeowner asked, “This is my house.”

“It isn’t your house,” the real estate agent said.

“Of course it’s my house,” the homeowner said, “I own it.”

“You don’t own it,” the real estate agent said, “I sold it.”

“How could you sell it?” the homeowner asked, “It isn’t yours.”

“I sold it on behalf of the bank,” the real estate agent said, “The bank doesn’t think the house is worth what you’re paying for it.”

“That’s not their choice,” the homeowner said.

“It is their choice,” the real estate agent said, “If they call in your mortgage, you can’t pay.”

“Why would they call in my mortgage?” the homeowner asked, “I’ve never missed a payment.”

“On the grounds that I promised to find you a new house that’s worth what you pay for it,” the real estate agent said, “I found such a house, I’m selling it to you, and I’m selling this house to someone else.”

“To who?” the homeowner asked.

The real estate agent replied, “To me.  Now come, let me show you your new home.”