Totem wrote:
I hestitate to say this because I would think it is blatently obvious, but regardless how much you want something doesn't mean you should actually buy something. And purchasing a home you cannot afford to make monthly payments for during the entire life of a thirty year mortgage is just plain STUPID. Regulation, deregulation, envy, covetousness, keeping up with the Jones', or any other number of rationalizations should not prevent you from asking that very basic question: Can I afford this purchase?
This isn't rocket science. It's just very simple math.
Totem
Fine, fine, yes, I get it and I think we all agree.
Neither should individuals' shared stupidity be allowed to bring down a nation's economy.
At some point regulations have to kick in, because banks are greedy and people are stupid and
none of this is new.