Dateline NBC Recap: The Sadowskis’ Financial Woes From Economic Recession
Dateline NBC departs from its usual crime stories as it exposes a particular family’s travails following the recession that hit America pre-2009. For four years, Dateline followed the Sadowskis from Orange Country, California: parents Tim and Krichelle and their two boys.
In a gist, this episode illustrates how a couple fought to overcome the financial woes that came with the latest economic downturn. In dire times, couples who are used to a bountiful lifestyle scramble to keep things together, including personal relationships. Tim and Krichelle’s fight to keep their house strained their relationship, much of which was from the woman’s end. I do not know the couple at all but judging from what was shown, it appeared that Krichelle equated love and happiness with financial high while Tim reacted with more logic (e.g. keep family intact even through troubled times). Their children have a more practical sense of their parents’ approach to their problems, one which can be considered very mature for their age after growing up in lavishness.
Tim and Krichelle do not have college degrees, nor do they come from affluent families but their perseverance shored them up financially. Prior to the recession, Tim’s construction flourished and brought him about $160,000 a year in income. The couple bought their upscale house in 1998 and lived the classic American dream. The center of their life was their house which was refinanced several times to improve its state, increase its value (tripled in 2004), purchase expensive items (e.g. cars, toys) and allow their family to support their expensive way of life. On top of this is the couple’s $80,000 savings.
Tim’s business took a direct hit from the recession; as such, the couple had to sell their expensive assets. Without college degrees, jobs eluded the couple. Along with their piled-up bills, impending house foreclosure, living on welfare and Tim spending more time at home, Krichelle’s irritation at her husband increased and forced her to entertain the idea of a divorce. Tim’s unfortunate motorcycle accident re-ignited their romance throughout their ordeal but went awry after Krichelle found out that Tim kept the motorcycle at the height of their financial problems and after the couple decided to short sale their property.
Today, the Sadowskis live in a one-bedroom apartment despite the couple being divorced. Krichelle claims that things don’t buy happiness but it is a big question why she gave up on her own marriage given the circumstances. Then and again, there are a lot of things that a one-hour episode cannot reveal.
A political science analyst explains that a family’s house is a major asset; when faced with foreclosure, families are usually hopeful that something good would happen to save such. The Sadowskis’ plight is a realization that jobs are difficult to come by to the first victims of a recession since companies question why they have been stagnant for a long time (really ironic). The Sadowskis’ short sale of their property is a better option but will still impact on their credit rating.
That’s our recap of Dateline NBC today, 8/30/13. We’ll have another recap next week. Until then, please check our Dateline NBC archives HERE.
Image Credit: Dateline NBC