Meanwhile on planet earth....

I am so sick of this economy, and how the actions of others is effecting me. Sure, I could have bought a town home in 2006 with an ARM-but I didn't. My income just isn't what it needs to be and I didn't have 20% down. But that didn't stop my fellow American's from "living the dream" and buying a $300,000 home with a $50,000 a year salary and no money down.
Wake up people, it started in the 1980's and has only become worse, and by that I mean materialism. I look back at my grandparent's generation. They bought a house in 1953, finished the basement when they had more kids and by 1983 the house was paid in full. But by the 1980's everybody wanted bigger and better. Live in a house for five years then upgrade. Everybody wants to better the Jones' by getting a massive 4,000 sq ft home with granite countertops and a three car garage.
Some people I know call me old fashioned, but I really believe we need to get back to basics. One parent should work (and not necessarily the man) and the other (not necessarily the woman) should stay with the kids to make sure they do their school work and stay out of trouble. We don't need to live in houses with powder rooms and studies or three car garages. We don't need to lease a Mercedes-Benz or Lexus every three years for the sake of status (by the way, how does paying way too much for a Toyota with leather interior count as status? The L on the grill should stand for Loser which looks a lot like the word poser).
Who are these people who took risky loans? The same people that blame the mortgage broker and bank for giving it to them. The same people who file bankruptcy and then demand new credit as if it is a right. Nobody takes responsibility for their own actions and it makes me sick.