Posted by jdemaris on March 01, 2008 at 17:30:03 from (67.142.130.12):
In Reply to: Re: Real estate. posted by Spook on March 01, 2008 at 16:57:05:
Yes, I understand that, but am not overly sympathetic. I've never had a job in my life that I felt totally secure in. For that reason, I wouldn't buy a house based on my one job and income from it, if my skills were not marketable at other places in the area. I know several people who are not skilled, but were employed making well over $1000 a week, and then bought the biggest home their paycheck could get with monthly payments. They knew they were not employable for that rate of pay anywhere else in the area, but overbought anyway.
From what I've seen in many of the foreclosures, people buy beyond their means with homes, and other things - and often expect to get bailed out if things go sour.
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Today's Featured Article - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
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