Zillow Advice: Home Buying - People are Still Hanging On

I haven't asked anyone to ...

Fri, 30 May 2008 18:09:00 GMT

I haven't asked anyone to bail me out or pay my debt......I shouldn't be asked by anyone including my gov't to ask me to do that for others.

So true, he drives around ...

Fri, 30 May 2008 18:08:00 GMT

So true, he drives around like he is some hot shot and everyone must envy him.....if he only knew that when we see him my hub and I just chuckle and think of what a stupid arse he really looks like to us.....but for every person who looks at it like I do there is that person who wants it and will do whatever it takes to have it. Your so right about not seeing the wart on the end of your nose though......when I first got rid of the $50K SUV and the $700 per month payment, I felt a little downgraded, though I never admitted it to anyone, even though I pushed to get rid of it, it was weird at first, I even remember thinking about what others would think and how I felt different driving the van again......it was short lived thankfully!

These are all people that ...

Fri, 30 May 2008 17:56:00 GMT

These are all people that need help and don't know where to go or what to do.

What your saying in short is ...

They didnt save, they didnt live below their means, and now they are asking

other who for years who did save and lived below their means for to help pay someone elses debt!

That is what I see in your statement... I say NO! I will not pay for someone elses mistakes...

So be it!

The guy with the range rover ...

Fri, 30 May 2008 17:48:00 GMT

The guy with the range rover I am sure feels completely justified, and thinks that others with range rovers are genuinely rich, not debt serfs.

But once you are on the outside, you can totally see what is going on.

3Girls, its interesting that ...

Fri, 30 May 2008 17:46:00 GMT

3Girls, its interesting that once you are out of the envy/debt/materialism cycle it is so easy to see what is going on with others comsumption choices (e.g. the range rover). While you are in it though, nothing anyone can say will convince you that you are making bad choices.

I mentioned this in another ...

Fri, 30 May 2008 17:44:00 GMT

I mentioned this in another thread, but my mother is planning on living with us when she retires so that she can maintain a closer relationship with the kids and the same lifestyle she is used to. My Aunt & Uncle are likely to live with us for a few months in the summer and spend the rest in Miami in a condo they will inherit when my Uncle's mother passes away (she is 97). Now my brother is feeling the need to be closer to family now that he is divorced with 2 kids.....thinks his wife will give him custody since she isn't really the mothering type......we have considered finding a property that has a seperate guest house/basement to house us all.....that could potentially be 4 families consolidated.....and there isn't a financial reason really for it, we are just starting to see that the seperation is hard on families and how it would be so wonderful for our kids to come home from school and have this wealth of wisdom and love surrounding them.

Pcmodem: I see the same thing ...

Fri, 30 May 2008 17:41:00 GMT

Pcmodem: I see the same thing in the circles I am in, I am also amazed at how many people do not contribute to a retirement fund of any kind!! In fact, there was an article about a CA couple who were both REAs and their downfall and eventual foreclosure of their home and what amazed me is how much they earned and what their net income was......my income wasn't far from theirs and my take home pay was way less, people seem to feel that paying for the now is more important than health insurance or savings of any kind. At the minimum if all heck broke loose we would cash out the retirement fund and could be 100% debt free and still have cash to live on for 6 months, even with penalities......but there would have to be something worse for me to go there. You can't tell me that the guy living up the street can really afford that Range Rover that is $75K....the magician is about to loose all his tricks.

A friend of mine has a small ...

Fri, 30 May 2008 16:23:00 GMT

A friend of mine has a small 3 bdr condo... Her daughter moved back in with fiance in tow, and now she's going to be a grandmother. They will then have 3 generations living under one roof.

This sounds like the living conditions in 3rd world countries. In those countries there are much closer family relationships between the generations. Maybe it is a good thing that Americans are living closer and building those relationships. That is the positive side to all this.

PC... so true. I fully expect ...

Fri, 30 May 2008 15:43:00 GMT

PC... so true. I fully expect my children and grandchildren to be living with us. I doubt things will blow over until at least my oldest (14) makes me a grandmother and stays living with us! lol

A friend of mine has a small 3 bdr condo... Her daughter moved back in with fiance in tow, and now she's going to be a grandmother. They will then have 3 generations living under one roof.

Did you know the X generation was the longest time in recorded history to live with their parents?

".....we will continue to ...

Fri, 30 May 2008 15:25:00 GMT

".....we will continue to see people doubling up and consolidating just to keep a roof over their heads."

Very very true. That's why both housing and rental prices will decrease. People are battening down. They don't care how much space they have, they're in survivalist mode. Heck, one of the reasons I'm renting a 3br house is in case I needed the extra cash per month in which case I could rent them out.

If you think there are too many houses now, just wait til everybody starts consolidating even more.