Comments on: When $100,000 makes you Go Broke: The Invisible Hand Forces Americans Into Debt. http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/ How I Learned to Love Southern California and Forget the Housing Bubble Sat, 05 Jul 2008 11:07:06 +0000 http://wordpress.org/?v=2.2.2 By: finnskogar http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18663 finnskogar Fri, 20 Jun 2008 20:56:05 +0000 http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18663 Three kids is vast luxury. Huge luxury. Global luxury. Especially living in Raleigh, NC, in the United States. You buy gas? That means you have fossil energy transport. Luxury. You bought a 350K house? Luxury. Great neighborhood? Luxury. Two working spouses? Luxury. Sorry, but you have a really good life. You just don't like how much it costs. And you don't know how to manage your money to make it go further, like those of us who lived through the Depression. Finn Three kids is vast luxury. Huge luxury. Global luxury. Especially living in Raleigh, NC, in the United States.

You buy gas? That means you have fossil energy transport. Luxury.

You bought a 350K house? Luxury.

Great neighborhood? Luxury.

Two working spouses? Luxury.

Sorry, but you have a really good life. You just don’t like how much it costs. And you don’t know how to manage your money to make it go further, like those of us who lived through the Depression.

Finn

]]> By: steve http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18479 steve Tue, 17 Jun 2008 20:42:41 +0000 http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18479 Hi, Ok, I never went to college, and started making 75-110k per year when I was 22. Im 30 now. My wife works as well and currently makes 85k per year. We live in Raleigh, in a great neighborhood and paid 350k a year ago. Ok, we also have no real debt. We'll put a few thousand on a credit card, then pay it all of in a few months. Here's the rub: to stay out of debt, we end up living paycheck to paycheck. We shop at walmart. Our kids go to public schools (3 kids) and the simple fact is that 100k feels like 70k did 4 years ago. We spend 200 per week in groceries and gas simply kills us. Im sure the country felt the exact same way in the late 1920s, when they were used to the good life then like we are now. Things changed in the 30s, and are getting ready to again. Even at 180k per year, we are solidly in the middle class, nothing fancy. We sweat every bill. We sweat taxes. And we don't understand how the Hypotheticals make it. This country is built on, by and for the Hypotheticals of the world, and when they hurt we all hurt. Hi,

Ok, I never went to college, and started making 75-110k per year when I was 22. Im 30 now. My wife works as well and currently makes 85k per year. We live in Raleigh, in a great neighborhood and paid 350k a year ago. Ok, we also have no real debt. We’ll put a few thousand on a credit card, then pay it all of in a few months.

Here’s the rub: to stay out of debt, we end up living paycheck to paycheck. We shop at walmart. Our kids go to public schools (3 kids) and the simple fact is that 100k feels like 70k did 4 years ago. We spend 200 per week in groceries and gas simply kills us.

Im sure the country felt the exact same way in the late 1920s, when they were used to the good life then like we are now. Things changed in the 30s, and are getting ready to again.

Even at 180k per year, we are solidly in the middle class, nothing fancy. We sweat every bill. We sweat taxes. And we don’t understand how the Hypotheticals make it. This country is built on, by and for the Hypotheticals of the world, and when they hurt we all hurt.

]]> By: Mary http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18391 Mary Mon, 16 Jun 2008 14:43:39 +0000 http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-18391 The thing I can't get over is the food bill--only $550 for a month for four people! I have three children--we're five altogether--and we spend 1,000 a month easily. We could spend less if we ate less healthily and if we concentrated a lot of time & energy on frugality--but our budget only allows $8.33 per person per day--theirs allows only $4.58. I live in NYC. Any thoughts. The thing I can’t get over is the food bill–only $550 for a month for four people! I have three children–we’re five altogether–and we spend 1,000 a month easily. We could spend less if we ate less healthily and if we concentrated a lot of time & energy on frugality–but our budget only allows $8.33 per person per day–theirs allows only $4.58. I live in NYC. Any thoughts.

]]> By: mary http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-13960 mary Fri, 09 May 2008 20:36:33 +0000 http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-13960 Fascinating; thank you everyone for your comments. I live in chicago, with my husband and 3 year old son. We just sold our condo at a loss (bad timing) partly because my husband lost his job and we cant make the mortgage on just my income and also the neighborhood does not have good schools. We are going to rent a house in the suburbs, to shorten my work commute, and hopefully save money. We would like to buy a home sometime next year, but first my husband needs to get a decent job. The scary thing is we dont know how long that will take. We are extremely frugal; some might say downright cheap, and yet we struggle to allocate the $$ the best way. Times are tough, that's for sure. Fascinating; thank you everyone for your comments. I live in chicago, with my husband and 3 year old son. We just sold our condo at a loss (bad timing) partly because my husband lost his job and we cant make the mortgage on just my income and also the neighborhood does not have good schools. We are going to rent a house in the suburbs, to shorten my work commute, and hopefully save money. We would like to buy a home sometime next year, but first my husband needs to get a decent job. The scary thing is we dont know how long that will take. We are extremely frugal; some might say downright cheap, and yet we struggle to allocate the $$ the best way. Times are tough, that’s for sure.

]]> By: VAR http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-13484 VAR Wed, 07 May 2008 13:43:21 +0000 http://www.doctorhousingbubble.com/when-100000-makes-you-go-broke-the-invisible-hand-forces-americans-into-debt/#comment-13484 I love all the budget cutters in the comments who want the average American to live without a modest vacation once a year and, apparently, go crazy. This budget is fairly conservative, and does not have any child care expenses. I don't find anything unreasonable about it at all. $500 for "entertainment" is 1 dinner out per week at a reasonable restaurant + 2 movies per month. That's not exactly living the High Life. Work lunch at $125 is cheap...I'm at probably $125 myself mostly at Chipotle, sandwich places, etc. Two income earners and you are at $250 probably. Bringing in lunch saves $, but increases groceries. The modern American lifestyle is unsustainable financially and environmentally. I love all the budget cutters in the comments who want the average American to live without a modest vacation once a year and, apparently, go crazy. This budget is fairly conservative, and does not have any child care expenses. I don’t find anything unreasonable about it at all.

$500 for “entertainment” is 1 dinner out per week at a reasonable restaurant + 2 movies per month. That’s not exactly living the High Life.

Work lunch at $125 is cheap…I’m at probably $125 myself mostly at Chipotle, sandwich places, etc. Two income earners and you are at $250 probably. Bringing in lunch saves $, but increases groceries.

The modern American lifestyle is unsustainable financially and environmentally.

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