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Theory on economy?
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<blockquote data-quote="DammitJanet" data-source="post: 319220" data-attributes="member: 1514"><p>Economics is something that I am really interested in but it would be a very long post to get into the reasons we are in this mess. Everyone has given very good ideas. </p><p></p><p>One thing I have never understood is getting into too much debt. I think that is because of the way my parents did things which is because of how they were raised in the coming out of the Great Depression. They just didnt believe in buying on time. I hear of house payments over a thousand dollars and I choke! I cant imagine it. Now realize we are blue collar and make under 30k so a thousand a month is a lot of money to us. I realize it isnt to some folks but even if we made more, I still would think it was a lot. </p><p></p><p>When Jamie decided to buy his house some Realtor told him how much he was eligible for on a loan. I about died. They told him he could get 200K on his 50K a year job. I told him he was crazy if he did that. Absolutely out of his ever lovin mind. That is the stinkin thinkin that got everyone into this mess. He found a place for 125K with a much more affordable payment. It is much higher than what I am comfortable with but he is living the american way...in debt. Me? I only have 2 years left on a car payment and own my own trashy mobile home. But its all mine! When everyone else loses their places because they cant pay the mortgage...they can come live here...lol.</p></blockquote><p></p>
[QUOTE="DammitJanet, post: 319220, member: 1514"] Economics is something that I am really interested in but it would be a very long post to get into the reasons we are in this mess. Everyone has given very good ideas. One thing I have never understood is getting into too much debt. I think that is because of the way my parents did things which is because of how they were raised in the coming out of the Great Depression. They just didnt believe in buying on time. I hear of house payments over a thousand dollars and I choke! I cant imagine it. Now realize we are blue collar and make under 30k so a thousand a month is a lot of money to us. I realize it isnt to some folks but even if we made more, I still would think it was a lot. When Jamie decided to buy his house some Realtor told him how much he was eligible for on a loan. I about died. They told him he could get 200K on his 50K a year job. I told him he was crazy if he did that. Absolutely out of his ever lovin mind. That is the stinkin thinkin that got everyone into this mess. He found a place for 125K with a much more affordable payment. It is much higher than what I am comfortable with but he is living the american way...in debt. Me? I only have 2 years left on a car payment and own my own trashy mobile home. But its all mine! When everyone else loses their places because they cant pay the mortgage...they can come live here...lol. [/QUOTE]
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