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Every Thing Else Board
Wants vs. Needs and Deep in Debt
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<blockquote data-quote="Running Arrow Bill" data-source="post: 599239" data-attributes="member: 9"><p>Read a story on MSNBC today where a family of 3 on East coast with their 28 yo son who is handicapped had spent around $200,000 to remodel (handicap ramps, new door/entry re-sizing, kitchen & bath remodel) their already ~ $360,000 house. They had an ADJ rate mortage (with $3500 monthly payments), credit cards maxed out, had borrowed from family, etc. Dad was employed as a painter at a college.</p><p></p><p>Now...</p><p></p><p>Even in a high living cost area, NO one needs a house that expensive or should have to pay those outrageous prices for "minor" remodeling! This is part of our National delimma...people buying houses up to 50% of their monthly income. There are jobs in other places where cost of living isn't outrageous. Houses that are modestly prices (with same SF of living space).</p><p></p><p>IMO people like this are too "tied to a leash" with their "town" or area and other "grew up here", etc., reasons to stay in those expensive areas. </p><p></p><p>The American public is too hung up on a "nice home" mentality (aka keep up with Joneses and/or "success" image) that all logic, common sense, and financial skill has gone down tubes.</p><p></p><p>No wonder our economy is a disaster!</p><p></p><p>My heart bleeds canola oil for people like these... The same goes for ranchers and farmers who have "mega-houses" and complain about the price of everything, agricultural products sales, etc. "Move into a smaller, less ostentatious house and all.</p></blockquote><p></p>
[QUOTE="Running Arrow Bill, post: 599239, member: 9"] Read a story on MSNBC today where a family of 3 on East coast with their 28 yo son who is handicapped had spent around $200,000 to remodel (handicap ramps, new door/entry re-sizing, kitchen & bath remodel) their already ~ $360,000 house. They had an ADJ rate mortage (with $3500 monthly payments), credit cards maxed out, had borrowed from family, etc. Dad was employed as a painter at a college. Now... Even in a high living cost area, NO one needs a house that expensive or should have to pay those outrageous prices for "minor" remodeling! This is part of our National delimma...people buying houses up to 50% of their monthly income. There are jobs in other places where cost of living isn't outrageous. Houses that are modestly prices (with same SF of living space). IMO people like this are too "tied to a leash" with their "town" or area and other "grew up here", etc., reasons to stay in those expensive areas. The American public is too hung up on a "nice home" mentality (aka keep up with Joneses and/or "success" image) that all logic, common sense, and financial skill has gone down tubes. No wonder our economy is a disaster! My heart bleeds canola oil for people like these... The same goes for ranchers and farmers who have "mega-houses" and complain about the price of everything, agricultural products sales, etc. "Move into a smaller, less ostentatious house and all. [/QUOTE]
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