It is, and I think it's even sadder when they have to make two incomes to cover expenses they never closely examine or attempt to trim. However, some people don't buy the homes they can't afford. They inherit them, or something unfortunate and unexpected occurs, affecting their ability to pay the expenses. What if your spouse comes down with a serious illness, or has an accident that results in permanent loss of income? What if some company buys the company you work for, and lays you off to install its own people? What if your spouse divorces you, and takes you to the cleaners?
Life is full of surprises.
well, that is life. but the article implied that the man made over
a $100,000 and lived in a $900,000 home. i live in atlanta and
earning $100,00 would certainly not be enough to manage a
house that expensive. even if you inherited the house, then property
taxes would be huge. but here, in atlanta, there are thousands
of underwater mortgages because people bought houses they simply
could not afford. barack and michelle were underwater until
political career took off and she was rewarded with a $300,000 make work
job.