[quote=plasticfantastic]This is hardly a new phenomenon. I noticed it 20 yrs ago when I moved here…
As stated above, it’s likely a function of people deciding that while they cannot afford to buy a home, they choose to have a nice car.
Not entirely illogical. Most people do not think in terms of long term financial wealth… they want to get by and enjoy life now. They realize they will never be ‘rich,’ but want a taste of what they perceive as ‘the good life.’ Is that really so terrible? I think not. Perhaps they are happier than the miser who amasses wealth and drives a POS[/quote]
It depends…Usually, the lack of respect for the dollar extends well beyond a large car payment. It’s usually symptom of a bigger issue. It appears to general view on credit. It might be different IF folks actually make the financial tradeoff and prioritize a large car payment over everything else. But quite often what happens that’s not the case. No tradeoff is made…as soon as the large car payments are made, then something else comes along, and that next thing is purchased on credit, minimum payment, and then the next, with no margin of safety in case the unexpected happens. And next thing you know, these folks are the same people screaming for financial help and a bailout. If Americans want to indulge in excess, that’s a personal choice. But then don’t ask for the nanny bailouts when the shit hits the fan and no plan B exists.
