Misguided folks...

[farmerEd]

http://www.dallasnews.com/sharedcont...1bf4.html'

http://www.dallasnews.com/sharedcont...e.2d69a51.html

http://www.dallasnews.com/sharedcont...h.2e6909d.html

You can login with:
ID: noway@fake.com
Password: sowhat

[Lazarus]

I live in a near by county and still see the same things on a smaller scale. I helped me kids with their first cars. Beaters nothing to brag about. They both now have modest new cars with a note that they are paying for themselves. Both know that Dad could have a much bigger house and more costly cars but chooses not to. What do we care who we impress? I won't be standing outside of my re-possessed house crying on the front page of the paper.

My former neighbor opined that he now had enough equity to move to a better house. And he did. I probably had more equity in mine the day I bought it.

[SteveR]

Kids did not have a car until they left of college and then it was only older but reliable cars. Son #1 still has his even 7 years later...goes to show the value of buying good used cars. Son #2 has late wife's car and it is still running strong. I helped them with school expenses but they both worked part time to pay some of their own expenses.

Kids need to understand the word "No". Too many parents spoil the heck out of their kids and then cannot understand why they are behaviour problems. I spoiled my kids more than I was spoiled but mostly on little things. The things they got the most of were love and being treated like adults. They were given high expecations but also a lot of freedom. I guess time will tell how well that all works out.

Keep up with the Jones will keep you employed for a lot longer than you may desire. It take a lot of $$$ to have the best toys on the block. I tell my wife we are the trailer trash of the neighborhood. But I bet I have more equity in my house than 90% of the neighbors and have no other debt besides my mortgage.

[JPatrick]

Like they say- - - -ever thin is bigger in Texus :

[Michael Moore]

Quote:

The Rev. Jeff Warren, lead pastor at First Baptist Church in McKinney, said church leaders recognized that many young families were in over their heads financially and offered money management classes. "We're saying that we've got to build a new building and we need new parking, and we turn to these folks and say, 'Give and give beyond what you're giving,' and these folks are strapped," he said.

Perhaps Rev. Warren should learn to live below his means, and make do without that new building and parking lot. :

How insensitive of those over-extended church members.

cheers,
Michael

[igsoy]

It seems like this thread has been overlooked because the OP did not give any description of the content, plus the articles it links are behind a registration page.

It is a rather incredible series in the Dallas news about the highest income county in TX, and the hyperconsumerism that prevails there. (note that the COL in this county is lower than other high income counties across the country, yet despite much cheaper housing, the people in this TX county have only half the net worth of the others mentioned in other states like CA, CT, NY, MD and IL) (and, of course, that's a whole other topic about people in those states with most of their net worth solely as a result of the RE bubble)

It hasn't occurred to these people that there is an alternative to indentured servitude to their consumer whims. A little thing called ER...

Anyways, re: the registration page, just use a generic sign in- I don't like signing up, either, so I use the generic one from my favorite blog: dailykos@dailykos.com, password dailykos. Anybody can use that, or try one from your favorite blog and see if it has been registered...

Hope these articles generate some more discussion.

Igsoy

[Lazarus]

I live nearby. My house is cheaper, my net worth is higher. Most peope buy as much as they can leverage. I hope they like ramin and dog food when they get old.

[gwix98]

BMW's and Jaguars to drive to High School?

It may sound harsh, but if the parents find themselves in financial trouble when they lose
their jobs, I can't muster much sympathy.

[frayne]

I see stupid people ! :