Originally Posted by JeffreyCH
I would hate to be young person just starting out in todays society. When I bought my house in '93 things were pretty simple, you bought a "starter house" that you could afford, had kids, got promoted at your job, built equity in your home until the need arose for a larger house. At that point you had enough equity, cash savings, credit score and income to get something larger.
Then it got to the point where young couples started out with huge 500k houses and lived paycheck to paycheck to get to point of where they should have hit in thier 30's. Somewhere along the line big business/gov't decided to sell our middle class to 3rd world countries, because let's face it, sustaining our middle class was just getting to expensive. So no more raises for mr. Smith, no decent paying jobs for Mrs. Smith, so poof there goes the 500k home. In walks Mr. and Mrs. Jones who think they can afford the smiths old house, and the cycle repeats.....
Crap!! I had a nice big rant, but now rather then finishing that thought I have to go chase the almighty dollar and get my ass to work...
Moral of the story, we fucked ourselves by being so caught up in "the american dream" no one was paying attention whne it got sold out from under us.
Yeah man, keepin up with those damn Joneses is killing my generation right now (30 somethings). I've got way too many friends that are underwater on their nice houses and drive pretty sick cars, but are gonna get screwed by that house and are buried under credit card debt and car payments.