[quote=sdrealtor]If we were willing to live in 1100 sq ft homes with one TV and drive our cars until the wheel fell off like grandad we could pay the mortgage off in 15 years also. [/quote]
Exactly. If people are worse off, then most likely it is that they don’t have self-control. Yes, the older generation pays off the mortgage in 15 years because they don’t refinance. But having refinance opportunity (with lower rates) itself isn’t a bad thing, it really depends on how you use the opportunity to your advantage or not.
This generation has been provided with more opportunities with the globalization, if only people can stop whining how unfortunately they are and start doing something with all the resources at their hands that the older generation could only dream about.
