Quote:
Originally Posted by worth
I understand where you're coming from, but I just find it rediculious how everyone is in debt for the rest of their life it seems. 50 year mortages and the like. It's sad really how they've roped us in and we can never get out.
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It is frustrating, but a lot of consumers are sort of doing it to themselves. The house thing is tough to control as you do need a place to live. But in terms of vehichles we don't all need brand new vehichles on 5 year payment plans to drive. Often we make that choice ourselves whether it serves us well or not. Whats criminal is the amount that young people are being allowed to borrow on stuff like personal lines of credit, vehichles, and retailer type credit cards. My parents never had access to credit like that, and my grand parents sure as hell didn't. You basically could borrow money to buy a house and that was it. Today if you didn't borrow to buy it you seem like the exception to the rule.
PS not trying to be an arrogant jerk here, I'm as guilty of this way of life as anyone. I've been reviewing my finanical failure of the last 5 years and have some very harsh criticism for myself.