going broke on 300K/year

[patb]

The Washington Post reports on the struggles of this single mom

http://www.washingtonpost.com/wp-dyn/content/article/2009/08/15/AR2009081502957.html?nav=rss_business

I think she doesn’t get that as a divorcee her standard of living had to decline. That means buying a 400K house, instead of staying in the 2 Million dollar house.

The magical thinking that life will be better after the recession. She has a job, I don’t know how the recession ending will help her out.

honestly i think she will destroy her savings and end up bankrupt on a 250K income.

[Allan from Fallbrook]

What struck me was the total disconnection from an any sort of objective reality.

This area she lives in thrives on this carefully constructed facade of affluence and gentility. No one talks about the effects of the Great Recession, nor does anyone admit how truly bad things are and how much worse they might get.

I read another article today discussing the sense of entitlement amongst the Baby Boomers and how deeply entrenched it is. Reading this article, it’s easy to see how far we still have to go and how few people truly understand the enormousness of the changes taking place.

[Allan from Fallbrook]

What struck me was the total disconnection from an any sort of objective reality.

This area she lives in thrives on this carefully constructed facade of affluence and gentility. No one talks about the effects of the Great Recession, nor does anyone admit how truly bad things are and how much worse they might get.

I read another article today discussing the sense of entitlement amongst the Baby Boomers and how deeply entrenched it is. Reading this article, it’s easy to see how far we still have to go and how few people truly understand the enormousness of the changes taking place.

[Allan from Fallbrook]

What struck me was the total disconnection from an any sort of objective reality.

This area she lives in thrives on this carefully constructed facade of affluence and gentility. No one talks about the effects of the Great Recession, nor does anyone admit how truly bad things are and how much worse they might get.

I read another article today discussing the sense of entitlement amongst the Baby Boomers and how deeply entrenched it is. Reading this article, it’s easy to see how far we still have to go and how few people truly understand the enormousness of the changes taking place.

[Allan from Fallbrook]

What struck me was the total disconnection from an any sort of objective reality.

This area she lives in thrives on this carefully constructed facade of affluence and gentility. No one talks about the effects of the Great Recession, nor does anyone admit how truly bad things are and how much worse they might get.

I read another article today discussing the sense of entitlement amongst the Baby Boomers and how deeply entrenched it is. Reading this article, it’s easy to see how far we still have to go and how few people truly understand the enormousness of the changes taking place.

[Allan from Fallbrook]

What struck me was the total disconnection from an any sort of objective reality.

This area she lives in thrives on this carefully constructed facade of affluence and gentility. No one talks about the effects of the Great Recession, nor does anyone admit how truly bad things are and how much worse they might get.

I read another article today discussing the sense of entitlement amongst the Baby Boomers and how deeply entrenched it is. Reading this article, it’s easy to see how far we still have to go and how few people truly understand the enormousness of the changes taking place.

[scaredyclassic]

not sure i agree. her main non-house expenses sound like property taxes and a nanny. She didn’t sell the big house when she divorced a couple yrs back but it wasn’t like some crazy irrational move. in retrospect it was dumb, i guess. she’s gotta have a nanny. gotta pay taxes.

[scaredyclassic]

not sure i agree. her main non-house expenses sound like property taxes and a nanny. She didn’t sell the big house when she divorced a couple yrs back but it wasn’t like some crazy irrational move. in retrospect it was dumb, i guess. she’s gotta have a nanny. gotta pay taxes.

[scaredyclassic]

not sure i agree. her main non-house expenses sound like property taxes and a nanny. She didn’t sell the big house when she divorced a couple yrs back but it wasn’t like some crazy irrational move. in retrospect it was dumb, i guess. she’s gotta have a nanny. gotta pay taxes.

[scaredyclassic]

not sure i agree. her main non-house expenses sound like property taxes and a nanny. She didn’t sell the big house when she divorced a couple yrs back but it wasn’t like some crazy irrational move. in retrospect it was dumb, i guess. she’s gotta have a nanny. gotta pay taxes.

[scaredyclassic]

not sure i agree. her main non-house expenses sound like property taxes and a nanny. She didn’t sell the big house when she divorced a couple yrs back but it wasn’t like some crazy irrational move. in retrospect it was dumb, i guess. she’s gotta have a nanny. gotta pay taxes.

[patb]

[quote=scaredycat]not sure i agree. her main non-house expenses sound like property taxes and a nanny. She didn’t sell the big house when she divorced a couple yrs back but it wasn’t like some crazy irrational move. in retrospect it was dumb, i guess. she’s gotta have a nanny. gotta pay taxes.[/quote]

her main non-house expenses? So you think a
woman earning 175K can afford a 2.5 Milliion dollar
house?

it says she bought her husband out, so i’m going to
guess she is carrying a 1.25 Million dollar note.
that’s a 7K/month payment or just about half her income.

if she had sold the house to her husband, she’d have a million, and if she could settle for a 500K house or even renting, until the bubble popped.

It is amazing how unreal the thinking is still

[patb]

[quote=scaredycat]not sure i agree. her main non-house expenses sound like property taxes and a nanny. She didn’t sell the big house when she divorced a couple yrs back but it wasn’t like some crazy irrational move. in retrospect it was dumb, i guess. she’s gotta have a nanny. gotta pay taxes.[/quote]

her main non-house expenses? So you think a
woman earning 175K can afford a 2.5 Milliion dollar
house?

it says she bought her husband out, so i’m going to
guess she is carrying a 1.25 Million dollar note.
that’s a 7K/month payment or just about half her income.

if she had sold the house to her husband, she’d have a million, and if she could settle for a 500K house or even renting, until the bubble popped.

It is amazing how unreal the thinking is still

[patb]

[quote=scaredycat]not sure i agree. her main non-house expenses sound like property taxes and a nanny. She didn’t sell the big house when she divorced a couple yrs back but it wasn’t like some crazy irrational move. in retrospect it was dumb, i guess. she’s gotta have a nanny. gotta pay taxes.[/quote]

her main non-house expenses? So you think a
woman earning 175K can afford a 2.5 Milliion dollar
house?

it says she bought her husband out, so i’m going to
guess she is carrying a 1.25 Million dollar note.
that’s a 7K/month payment or just about half her income.

if she had sold the house to her husband, she’d have a million, and if she could settle for a 500K house or even renting, until the bubble popped.

It is amazing how unreal the thinking is still

[patb]

[quote=scaredycat]not sure i agree. her main non-house expenses sound like property taxes and a nanny. She didn’t sell the big house when she divorced a couple yrs back but it wasn’t like some crazy irrational move. in retrospect it was dumb, i guess. she’s gotta have a nanny. gotta pay taxes.[/quote]

her main non-house expenses? So you think a
woman earning 175K can afford a 2.5 Milliion dollar
house?

it says she bought her husband out, so i’m going to
guess she is carrying a 1.25 Million dollar note.
that’s a 7K/month payment or just about half her income.

if she had sold the house to her husband, she’d have a million, and if she could settle for a 500K house or even renting, until the bubble popped.

It is amazing how unreal the thinking is still

[Author]

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