Vacation Home Buying Fizzling. RV's too?
How many think this article from the Washington Post could be reprinted substituting "RV's and Boats" for "Vacation Homes"? Those monthly payments are going to start looking ugly when you're finding ...
Forum Discussion
cptqueeg wrote:
"most will be completely wiped out" - That is some doom and gloom right there.
I'm conservative financially, but we've had mortgages and we've survived multiple layoffs, dot com bust, 9/11, the collapse of 2008, bad years in business, etc, etc. I'm blessed by a hard working wife that has strong business skills, I owned a dependable business, and good health. We now have zero debt, it feels great! (used to be a big Dave Ramsey fan, although he turned out to be a creep) Most people not only do fine w mtg debt they prosper. Those who have a mtg(s), college loans(theirs or kids), multiple car loans, and pile consumer debt on top of that, well they're reckless. And I've seen many others that take a lot more risks than me and they've actually come out way further ahead financially. Like they say "there is more than one way to skin a cat."
If I may clarify, I wasn't talking about mortgage debt per se, so I'm not sure where you got that impression. I'm talking about all the people who are leveraged to the teeth with all kinds of debt. 2nd and 3rd speculative houses, expensive vehicles, boats, RVs, crypto, stocks, etc. You would not believe how many gamblers there are out there right now. It's all crashing as I type.
