I think there are a lot of these families in financial distress only because they were unrealistic about the cost of real life and what could happen to them and NOT due to buying or taking out equity at the peak.[/quote]
I think a lot of families dramatically underestimate the cost of providing for children. Most folks shouldn’t have children – realistically, they can’t afford to provide for them in the manner they view in their mind’s eye; rather, they discover this uncomfortable truth after the fact. Children should be viewed as luxury goods – they’re expensive and completely unnecessary.
