[quote=flu][quote=carlsbadworker][quote=flu]Let’s put it in perspective. Folks that bought a place say in Shanghai in 2003, are probably seeing 400% gains today. Selling said place and buying say a $1million place say in San Marino(even though folks might think is expensive, overpriced, etc) is still probably “safer” than keeping it in Shanghai. Plus, even if things depreciate, I’m sure folks would still come out ahead.
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As a 1st generation asian immigrant, I’d say this is quite true. Sometimes I look at my less well-off American friends and think of the many ways they could’ve cut down their expenses. I guess it has everything to do with lifestyle and spending mentality. Starbucks would’ve gone out of business a long time ago if everyone was like me–why pay > $2 for a cup of coffee on my way to work while I can get it for free AT work?

My parents are even worse. They keep telling me the million ways we’re being wasteful and how much money they would’ve saved if they had my income. Did your parents ever tell you that Flu? In a way I admire my parents for being that way. They have little demand in life and are easily content and satisfied. And they’re misers only to themselves and are extremely generous to meet others’ needs.