[quote=bearishgurl]Are there any Piggs born between approx 1965 and 1985 who can answer these questions? Did YOUR parents use MOST or ALL of their monthly income just to purchase a property in a particular school-attendance area? Did your family have more than two vehicles, and if so, were they both late-model vehicles (newer than 6-7 yrs)? How many square feet did your family live in and how many of you were there??
In short, Warren stated that the “two-income” family of late systematically and deliberately GREW into the second income VERY quickly due to their insatiable appetites for MORE, NEWER and FASTER. This second income DID NOT increase their savings or improve their quality of life. In many cases where there were 2+ children, it only caused the parents to be more stressed, frenetic and in deeper debt.
I’m all for both parents working and sharing in child care. But if that extra income is going to $1000+ month daycare for ONE child, to purchase a gas-guzzling SUV, boat or other toy and/or to an exorbitant MR/HOA combination, then what’s the point? Why not just live on one income in a cheaper home and area, like your parents likely did, and be happy??
The properties located in a lot of these “coveted” school attendance areas are NOT better designed, better built or more conveniently located than those located in closer-in established areas. Nor are the properties in established areas as heavily encumbered due to high HOA/MR. A good portion are situated on “substandard lots.” I think a lot of “middle class” families today did it to themselves in their quest to appear “upper middle-class.” The were enabled by easy credit. If some of these families DO end up being forced to adopt a much lower standard of living in the future, it will come as a shock to many (who have never had to economize in their lives).[/quote]
BG – We lived in a single family home. My dad was very old school and mom was to stay at home, cook, clean, take care of the house and kids. Only one car. We did not live any extravagant life. Very simple. We went to private school for a few years. But my dad was not able to continue that on his income. We ended up moving to Italy for a few years for many reasons, but one of them was b/c he felt we would get a better education there than public schools here. When I attended high school here in California, I noticed I knew much more than most kids here.
I have to say that both parents working just allowed for them to buy more stuff, not really needs. I also agree that many people I know that live in the new neighborhoods, like 4S Ranch, have an image that they are trying to uphold. I’m not sure if it’s advancing “quality” of life, as they spend a lot of time working and commuting to maintain their image of a good life.
