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I remember drilling a well for one new home.........it was big and really nice.
Likely $500,000 or, more.
As I talked to the people I thought they owned a restaurant......nope.......he is a prep-cook.....she does home healthcare.
Three years last I see the home in foreclosure.
Was that during the rush where they'd sell a home to anyone? People making 50 combined were buying 500K homes that were on those adjustable mortgages and they all lost their homes. Basically cheap rent for 2-3 years until it adjusted, they walked and we taxpayers footed the bill.
Watching Hgtv and seeing all the huge houses that these families buy or want for multiple hundreds of thousands had me thinking, do we require too much for the American dream? ....
HGTV is nothing but a shill for the corrupt real estate industry. This is an industry that is quite happy to push people into homes they can't afford all so they can collect the commissions.
As far as HGTV is concerned, their shows like House Hunters are completely staged. They only take couples who have already bought a house, and the other two homes are there for show.
Absolutely people live far beyond their means for no good reason. Few families need a 2500+ sq. ft. house, starbucks all during day and night, and a closet as big as a small bedroom for all her clothes. And don't forget the legions of women who need a 5 or 6 person SUV to go shopping or take her two kids to daycare/school. I was stunned several years ago when my son told me about all the fancy cars that kids were driving to school. When I was growing up, only the wealthy kids had parents who provided such. Most of my friends and I had to buy our own cars with the money we earned ourselves. Most of us first bought a beater, and we were thrilled to have that. I never did end up taking my own car to HS. I took the bus my whole senior year as did many of my friends.
I have a friend who bought a house in Austin after relocating from NY. So instead of pocketing the huge profit they made on their home in NY, they put it all into a 5000 sq foot abode in Austin. 5 bedrooms, 4 baths, media room with theatre chairs, the works.
They're 2 people, no kids, and don't want kids.
So while yes, they can afford it, we did Facetime after she was in the home for ~ a year and room after room after room were completely EMPTY.
That sounds crazy to me but if they can afford it that is not living above their means. I see that big a house as endless cleaning.
I don't live large per say. I own two homes but they are not 3000 square foot ... I don't like maintenance and there is always maintenance.. The more you own the more to take care of.. when becoming a homeowner it is a big responsibility.
My home in Florida is 1800 sq. ft.. I could have bought more of a house but I didn't want to. I bought the lot behind my house because I didn't want anyone that close to me.. but I have to take care of it.. and with the lanai I have @2500 sq ft total to maintain..
One must think of the responsibility of whatever they acquire. I don't care what my neighbors own . I live my life for myself, not to impress or keep up. I refrain from doing anything to the extreme. It really is a personal thing to what one chooses to do... I rather have more money in the bank than live to the extreme. Some people buy every new thing on the market. I am not an easy sell because I have learned to stay in a state of contentment. If I need something I can buy it.. I don't have any runaway wants like many people I have talked to in this day and age.
Life is a series of choices. I believe in living below your means and it will go well. I rather have a smaller house and keep it looking new than a mc mansion that looks run down.. and I have seen quite a few of them and many go back to the bank.
If I didn't have enough money to have a full-time cleaning lady, I would own a 5-600 square foot apartment.
I don't know how or why middle class people live in 3K+ square foot homes. Either you spend an utterly ridiculous percentage of your life cleaning, or your house is filthy. No alternative.
I think a lot of people still believe that the value of their home will increase above the rate of inflation. Many experts say it is not true, many say housing is still a pretty good investment.
I think investment might be the reason why people buy houses they cannot afford or don't need. Owning a house to a lot of people is a symbol of accomplishment.
Buying has a much, much much better ROI than renting.
so if buying, nor renting is a good investment, then I suppose we all should be homeless
what do homes do for us anyway?
The word brainwash conveniently absolves people of taking responsibility for their stupid decisions.
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