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Old 03-04-2011, 12:15 PM
 
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Could the high amount of pretentiousness be the reason for this?


Dallas-Fort Worth, Deep in Credit Card Debt - Dallas News - Unfair Park
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Old 03-04-2011, 12:22 PM
 
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I think it could also be a high amount of out-of-state relocatees who have several underestimated how "cheap" the cost of living is here!
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Old 03-04-2011, 12:29 PM
 
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That's a good point
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Old 03-04-2011, 01:50 PM
 
Location: North Texas
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Quote:
Originally Posted by TurtleCreek80 View Post
I think it could also be a high amount of out-of-state relocatees who have several underestimated how "cheap" the cost of living is here!
I think it's a combo of the above plus hard economic times and a lot of $40k millionaires (who come from all over, including Dallas).
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Old 03-04-2011, 02:20 PM
 
Location: The Big D
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Quote:
Originally Posted by TurtleCreek80 View Post
I think it could also be a high amount of out-of-state relocatees who have several underestimated how "cheap" the cost of living is here!
Could be a lot of it.

Young college grads already living a bit on borrowed money. Got a great job offer here and moved here since it is a great area to get started and they THOUGHT it was a low cost of living or "cheap". Came here w/ the good job but owing a lot of college loans and probably already had that credit card from college w/ the high interest rate. Running hard trying to impress and live it up and doing it all on borrowed money.
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Old 03-04-2011, 02:30 PM
 
Location: DFW
12,229 posts, read 21,503,069 times
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Yeah yeah yeah, blame the transplants..

This story doesn't surprise me at all based on what I've seen on people's credit reports (I work in mortgage). Sometimes I can't believe how much people leverage themselves -- and it's seldom related to student loans. Usually expensive cars and lots of credit cards.
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Old 03-04-2011, 02:40 PM
 
2,348 posts, read 4,817,748 times
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Originally Posted by Debsi View Post
Yeah yeah yeah, blame the transplants..

This story doesn't surprise me at all based on what I've seen on people's credit reports (I work in mortgage). Sometimes I can't believe how much people leverage themselves -- and it's seldom related to student loans. Usually expensive cars and lots of credit cards.
Seriously, great response here..If anything sheer numbers skew this, doesn't matter that they are transplants. I think there is alot of temptation in Dallas too, with all the retail and activities for people to partake in.

BTW, the cost of living IS cheaper in Dallas compared to alot of places.
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Old 03-04-2011, 02:44 PM
 
Location: The Big D
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Originally Posted by skids929 View Post
BTW, the cost of living IS cheaper in Dallas compared to alot of places.
To a point. Problem is there are the vast amounts of people that relocate here with the "cheap" notion in their head. They are thinking that it's "cheap" as they can get a BIG BRAND NEW house for a lot less than they could where they moved from. Problem is they did not factor in other expenses. Especially if they bought the BIGGEST house they could get that was really far from their job. Things like gas and car maintenance for putting on all those extra miles from living further from work, utilities for that BIG HUGE house, property taxes for that BIG BRAND NEW SHINY house, insurance for that big brand new house, etc. Once you start adding all these things up it's not really "cheap". It COULD have had a lower cost of living, not "cheap", if they had paid more attention to the whole picture.
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Old 03-04-2011, 02:53 PM
 
1,518 posts, read 5,269,575 times
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Quote:
Originally Posted by momof2dfw View Post
To a point. Problem is there are the vast amounts of people that relocate here with the "cheap" notion in their head. They are thinking that it's "cheap" as they can get a BIG BRAND NEW house for a lot less than they could where they moved from. Problem is they did not factor in other expenses. Especially if they bought the BIGGEST house they could get that was really far from their job. Things like gas and car maintenance for putting on all those extra miles from living further from work, utilities for that BIG HUGE house, property taxes for that BIG BRAND NEW SHINY house, insurance for that big brand new house, etc. Once you start adding all these things up it's not really "cheap". It COULD have had a lower cost of living, not "cheap", if they had paid more attention to the whole picture.
I agree. I just don't think the transplants really factor in the other expenses that come with living in that "cheap" house out in suburbia. The ants can, and will, carry you away.
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Old 03-04-2011, 02:59 PM
 
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I know several people (one family in particular related to my girlfriend) that used to be doing well (steel mill owner), but in recent years have been screwed by the economy....but they don't know how to live in a lower lifestyle so they continue to spend thousands on horses and beauty pageants for their girls, even though they can't afford it. Its just a refusal to live within their new means.
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