Re: OT: AARP

If you made 40 bucks a week and rented for 10 bucks a week, that was in line
with the percentage of your income that should be going to housing. Trust
me, those percentages are not the same today. Not for McMansions, either,
for basic decent housing.

"Judity" <Judity01@xxxxxxx> wrote in message
news:45md40F7e6ksU1@xxxxxxxxxxxxxxxxx
((Judith, you may be right about their spending habits, although I am not
sure, but you are throwing a stone where a flower should be planted.
This generation cannot save. ))

Janice, you could be right about many of this generation. I can only
judge by the ones I know personally. Cannot save? I don't believe this
for a minute. My first job I made $40 a week, rented for $10 a week, and
still managed to save. Granted, it was only a small amount, but each
month it added up.

These people now spend and spend, running up large balances on credit
cards for things they want but don't need. They then pay only the minimum
balance each month.

Instead of spending, what?, three dollars a day for a Starbuck coffee, why
not put it aside in a bank account? The kids need an IPod? What do they
cost? No, they want an IPod, and the adults want a plasma TV or, insert
some other new expensive bigger-and-better article here. I admit I love
my new toys, but I only buy what I can afford each month.

Large mortgages? Do they need these large fancy homes in expensive
neighborhoods? By buying homes they can't afford, they're the ones
driving up the housing market for others. Then, they cry when the banks
foreclose on them because they can't afford the payments.

My present car is 19 years old, and I'd love to own one of those gorgeous
new SUVs such as the Cadillac Escalade. When it's shown on TV, I
practically salivate over it. However, my hatchback Dodge Colt DL runs
well, and the Escalade is a want and not a need.

I've owned two homes and three cars in my lifetime and knew my limits in
what I could afford. I can't say the same for younger friends and family
members. I'm sorry, but I don't have much sympathy for people who spend
beyond their ability to pay. Perhaps recent events color my attitude, but
it is mine and I'm sticking to it.

Judith
Come drop by Walker's mansion
http://www.writing.com/main/books/item_id/1022028
The Home of the Red Fox
http://Writing.Com/authors/judity






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