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This means not buying a McMansion and trying to keep up with the Joneses. This means not buying multiple huge SUVs and living in the suburbs and spending thousa
by michaelchisari 15y ago
This means not buying a McMansion and trying to keep up with the Joneses. This means not buying multiple huge SUVs and living in the suburbs and spending thousands on gas every year.
Are we really so positive that everyone who is hurting in this economy made these kinds of irresponsible financial decisions?
- illumin8 15y agoA good many of them did. If you think housing is an investment and leveraged yourself to the hilt in 2005, you probably got what you deserved.
- michaelchisari 15y agoThe problem is, economics is a group activity. While many people were irresponsible, the effects of their irresponsibility have been felt throughout the economy. And some (banks) were definitely more irresponsible than others (homeowners), by virtue of the amount of power they wielded.