I know that there's a good portion of this fair city who's driving down the street, with a hankerin' for the Arches, seeing that sign and smacking their fat foreheads saying "25 cent Nuggs? What a deal! They're practically givin' 'em away!"
Which leads me to the point of this digression.
Everyone can pretty much agree that the reason for this economic downturn we're in is the real estate crisis. You have a good portion of many a fair city driving down the street, with a hankerin' for the American Dream, seeing the ReMax sign in your yard and smacking their fat foreheads saying "More square footage for less money? What a deal! They're practically givin' 'em away."
The same people who think that paying an extra five cents for a delicious premium all-white-meat chicken tender is a solid bargain are the same folks who are buying into these zero-percent-down mortgages thinking that their starter home should be a 3,500 sq. ft. two-story with a three-car garage. The consequences of being upside-down in their mortgage are masked by shiny-white vinyl siding that'll shear off in the next Midwestern storm.
I'm no elitist, or math expert, but I do know how to compare my current income to 360 monthly payments plus taxes, mortgage insurance, and unforeseen repairs while keeping a reasonable budget in mind. But then again, my house isn't in foreclosure.
But my fellow GenXers - my peers with their wallet-busting student loan payments, 60-month mini-van finance agreements, and 2.1 kids - are throwing away their financial future (and good credit, and marriages, and self-respect) for an impatient, live-in-the-moment, he-who-dies-with-the-most-toys-wins lifestyle.
So enjoy your gigantic tract home with its barely-there lot, shoddy materials and virtually zero resale value.
There's a reason they call them McMansions.
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