[quote=4plexowner]”trapped equity”
what happened to the idea that we pay down a mortgage and someday own our real estate free and clear?[/quote]
That has gone the way of the dodo bird….
Along with moms staying home with the kids, having dinner as a family, being a “company employee” for your entire career, kids respecting their elders, and waiting at least until high school to have sex.
That was at a time when you could go outside to play until the street lights came on and when you got hurt doing something stupid you didn’t sue the person whose property you were playing on.
It was a time when houses in Southern California could be bought for 2X an annual income and TV’s were black and white. You had to get up and change the channel, and you had to actually answer the phone and say hello to find out who was calling… among other things.
The new culture is to have both parents work, not to make money to save, but to fund an excessive lifestyle saddled with debt and live beyond your means.
Let someone else bring up your kids, have an entitlement attitude, run up debt without any clue of how it will get paid off, the govt teaches people to be victims, and to spend not save…
Lease a car instead of buying one.
and constantly hearing $19.95 PLUS SHIPPING & HANDLING.
You MUST learn how to say “it’s not my fault”
The new mantra is “debit or credit ?” and “push 1 for English”
Want a reminder of how life was not so long ago ? Watch an episode of Ozzie & Harriet or Leave it to Beaver, if you can find one and if you don’t know what I am talking about, I can only say that I’m sorry.
Today you have the “luxury” of believing in a 401K as a false sense of security and knowing that you can get a reverse mortgage so your “house can start paying you” at time in life when you are afraid of getting scammed by an investment advisor with a sure thing..
