Foreclosures spike locally in July, a 58 percent jump from June
Near my home I've watched houses go on the market and stay there. One house has been for sale for well over a year. Things are just not selling. And in the mean time foreclosures are still rising. Well, I can honestly tell you there were WAY too many people around here who bought WAY OVER THEIR HEADS--bought those huge homes on one income. You see too many of them--homes that are 3-4,000 square feet, 2-3 fancy cars in the driveway and lots of rug-rats running around. I have no clue how those people could afford those houses--I know we can't and we're fairly financially stable (I measure that by the ability to pay the bills every month and actually be able to go out to dinner every now and then--with a coupon of course!).I guess this all proves my parents were right--don't buy things you can't afford. Kind of simple isn't it? Well, they've lived their lives like that and so have I. Taught my off-spring that too, and so far it's worked for all of us. But hmmmm, I'd sure like to have that BMW convertible. Maybe a nice used one.....ya never know.
