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Don't forget that most people who overextend themselves financing these large homes also finance their cars as well. And they aren't settling for a Ford Focus or a Nissan Altima either. It's usually got to be a Lexus or an expensive SUV for these people. A recipe for disaster. These people only "rent" their lifestyles. They are just a paycheck or two away from financial ruin.

Yes. I'm 52, and hope to be totally debt free with a net worth of 2 mill living on Lake James, NC. The wife and I have saved and struggled for 31 years. We maxed 401Ks and IRAs every year. Kids today can't save a dime. I refer to them as "The Instant Gratification MTV-Rapper-Generation>" When I labelled my kids in that regard, they tried to sting me that I built a race car (Shelby Cobra). They don't understand that the car is paid for, and that I built that race car. Kids today seem to be sooooo lazy.