[quote=zzz]On the affordability topic, do many of you still see people spending and living like its 2004?
I’m still shocked by how many people I know who think putting as little down as possible and buying a house where their total monthly payments make them house poor is still ok. Taking on “more” credit card debt to furnish their homes, eat out, take vacations, etc. On top of which, people think having 3-6 months of savings is good enough. If you’re buying a 750k house for instance, its not like you can just get a job temping and cover your mortgage so I’m a bit surprised at how optimistic people feel that if they lose their job, they can just get another one.[/quote]
The joke I have with people in my boat is that well, I suppose this is happening because it beats saving and subsidizing everyone else to spend lavishly.
The other thing is that I guess some people think well, since the Fed doing massive bailouts, if I get in trouble, it’s ok too.
I’ve started to realign my spending habits from being an ubber saver to slightly indulging more in the material world lately myself. I don’t see a point in being ubber saver and getting reamed on taxes at the same time. (Suddenly my digital pictures are looking a lot better these days with better glass 🙁 ).
