Foreclosure rate

[Brian]

A lot of people rent as the housing market is pretty hard to get into for youngsters, unless they have pretty good jobs. Banks will only lend people up to 5 times their salary (not sure how that applies here)

You have lots of good points and pretty much nailed american culture on the head. DFW area is much worse than many parts of the country too.

Here, rule of thumb is lenders dont/wont lend money if the monthly mortgage payment is more than 25% (or is it 28% now) of ones gross salary- minus any other debts such as car, school loans, credit card.

[Guest]

Actually it's 38%.

[HEAD]

This wouldn't be a problem if people lived within their own means and stop trying to live within other people means.

[Muppit]

Exactly.....I remember the conversation with a couple of fellas on the golf course when I first arrived.....

I had been here a week, and fairly proud my wife and I had furnished andgot our house in order so quickly.

I was asked if we had done everything...I said yes, to the best of my knowledge.

The three guys around me were amazed.....I soon learned that a house here is not completed until 16,000+ is spent on a media room amongst other things....

Media room...never even heard of one of those before. Well mine has a tv a couch and a table with a dvd player attached....pretty good to me!!!

Anyway, although I may be bashing the culture a bit, I also 'CHOSE' to live in it knowing all about it, so the positives far outway the negatives. It is now my responsibility to try and get some of the strengths of all the cultures I have been fortunate enough to live within and try an instil those principals in my children.

Imagine hard working, well educated individuals with the means to have whatever they need, but without the need to have whatever they want.

(grew up in Asia Europe and North America)

[HEAD]

The three guys around me were amazed.....I soon learned that a house here is not completed until 16,000+ is spent on a media room amongst other things....

Media room...never even heard of one of those before. Well mine has a tv a couch and a table with a dvd player attached....pretty good to me!!!

My media room has the same things your does. I have noticed that impressions on what other people think of you is big here. More than what I am used to. Not saying it is a bad thing, but it can get you into trouble if you let it overcome your better judgement. I try not to include what other people think or have into my decision making.

[Brian]

Actually it's 38%.

yikes!

well, i suppose on the west/east coasts, that is a sad reality.