Casualties of the current economy... (Page 2)

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2008-10-07 2:43 PM
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Subject: RE: Casualties of the current economy...
jszat - 2008-10-07 10:22 AM

The moral isnt necessarily true in that someone can choose to rent a place outside of their budget just as easily as they can (or hopefully could) buy a place outside of their cash flow.  The moral is that folks should understand their financial situation and work within parameters that will not get them in over their heads financially.  There is a lot of speculation as to what exactly go this guy in trouble.  Heck, at the root of it maybe he was a gambler and owed some bookies cash.  Who knows.  Whatever it was, financial distress of some sort made him think this was the only way out.  However, to blame this on the underlying economy vs a whole basket of underlying 'other's is pretty ridiculous methinks.  Kudos to you for keeping things reasonable for your household budget BTW.  We would be in a much better place as a nation if folks acted as responsibly.

 

Absolutely, sorry I didn't make that very clear.  There are certainly people who are renting outside their means.  But none of us can ascertain that from the article.  Other than they were renting.  It could have been credit card debt, auto debt, college loans, a previous house, drugs, gambling, sex, who knows.  I was just trying to point out that just becasue someone is renting doesn't always mean they are living above their means.

 

Yeah, I wish some days we had a house we owned so I could paint as I wanted and change stuff (not that the house we have needs a lot of changing).  But at the same time, I remember all the money we are able to save each month by not paying a mortgage on a house we might not live in long enough to make it worthwhile.  Not to mention, we'd really love to find something not in an HOA with something more than a postage stamp yard.  Which in this area, could possibly mean it comes as needing some repairs.  So gotta save for that stuff too.



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