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You may suggest whatever you want, but people are getting into mortgages and home equity lines of credit they can't afford. One of the areas they are overspend
by dade_ 7y ago
You may suggest whatever you want, but people are getting into mortgages and home equity lines of credit they can't afford. One of the areas they are overspending are on renovations. If you believe this makes someone a 'good' debt slave, then all the more power to my argument.
- lazerpants 7y ago>people are getting into mortgages and home equity lines of credit they can't afford The numbers suggest otherwise: https://fred.stlouisfed.org/series/MDSP https://fred.stlouisfed.org/series/MDSP
- ghaff 7y agoFurthermore, to the degree that people spending too much for housing is a problem in some places (like the Bay Area), I'd also suggest that's far more a function of land costs than it is granite countertops.
- the_gastropod 7y agoLand definitely explains some of it, yea. But we definitely have inflated our expectations as well. The average home size in the U.S. today is roughly twice what it was in the 1950s.
- ghaff 7y agoI'm sure that's true but I'm also not sure that's entirely a bad thing. We may have opinions on what is reasonable but I'm fairly sure we don't think in general that living in tenements is a good thing.
- deleted 7y ago[deleted]