http://blacksmythe.com/blog/2006/06/30/american-debt-increases-33/ Intellectual discussions on pressing issues Fri, 05 Dec 2008 17:00:33 +0000 http://wordpress.org/?v=2.6.2 http://blacksmythe.com/blog/2006/06/30/american-debt-increases-33/#comment-11 Akil Sat, 08 Jul 2006 16:33:00 +0000 http://blacksmythe.com/blog/?p=46#comment-11 Debt is a fact of life. Education costs, mortgages, automobiles are each unavoidable in most places in America. Yes, we are continuously reminded of our consumer muscle but we do not talk about debt management. In other words, we like to compete in the track and field event of buying but we do not care to practice the running of debt. In Houston, foreclosures on homes of "first-time" buyers are at a record high. Because "owning" (read: buying) a home is one of the safer investments, people have been herded into debt without studying the costs of ownership. Excited homebuyers are now turned into overburdened renters possibly for the rest of their lives. Debt is a fact of life. Education costs, mortgages, automobiles are each unavoidable in most places in America.
Yes, we are continuously reminded of our consumer muscle but we do not talk about debt management. In other words, we like to compete in the track and field event of buying but we do not care to practice the running of debt.
In Houston, foreclosures on homes of “first-time” buyers are at a record high. Because “owning” (read: buying) a home is one of the safer investments, people have been herded into debt without studying the costs of ownership.
Excited homebuyers are now turned into overburdened renters possibly for the rest of their lives.

]]> http://blacksmythe.com/blog/2006/06/30/american-debt-increases-33/#comment-10 kspence Sun, 02 Jul 2006 23:20:52 +0000 http://blacksmythe.com/blog/?p=46#comment-10 Absolutely INSANE. But somebody's buying... Absolutely INSANE. But somebody’s buying…

]]> http://blacksmythe.com/blog/2006/06/30/american-debt-increases-33/#comment-9 Cobb Sun, 02 Jul 2006 17:02:05 +0000 http://blacksmythe.com/blog/?p=46#comment-9 Just yesterday I threw away another of those traps. The credit card company offers 300 of credit at 19% with an annual membership of 50 and an initial processing fee of 110. So for 160 you get 140 worth of credit. Astounding. Just yesterday I threw away another of those traps. The credit card company offers 300 of credit at 19% with an annual membership of 50 and an initial processing fee of 110. So for 160 you get 140 worth of credit. Astounding.

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