Tuesday, March 18, 2008

The End of Excess?

Here's an interesting article I read on Reuters. It's titled Households face the unthinkable: budgeting.

Here's a good quote from the article:
We get home owners coming to us in trouble, but then we look and see they have only make $50,000 a year and yet they own an Escalade," he said, referring to a Cadillac sport utility vehicle that sells for about $55,000. "And you have to ask them 'What on earth were you thinking?'

Here's one of those home owners in a snippit from a WSJ article back when the subprime thing started:

A koi pond, a 12/18 mpg Navigator, and a shrinking income. Oi.

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