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Super G, ahem....*I* have the most wonderful GSDs in the world. ;) :D

One of the problems is there are systems and protections in place that a lot of people aren't aware of that keep a level of balance, stability and fairness to it. It's sort of like when we flip on the light switch the electricity comes on and we have light. We don't think about how that electricity is supplied and the ins and outs of the way it's created and what safety features keep us from getting electrocuted when we plug something in.

What is interesting about your story is it contains examples of people savvy enough to use the system and new loop holes to their advantage. They don't represent the vast majority of people who bought single family homes as their primary residence.

Sure there were the "flippers" and such but they, for most part, knew the game.

It's also interesting you mention how you were raised, I was raised the same way. My parents were hard working small business owners and they were "financially literate" and taught my sister and I to be financially literate too. I was lucky to be born to parents who could give us that guidance. Not everyone is born to those circumstances. Sometimes I remind myself it was only by a sheer stroke of luck or fate or ?? That I was born here in the U.S. Rather then a place like Somolia or a slum in Mumbai. There but for the grace of God go I....that is something my parents taught me as well. Plus there are some other things in my history/family history that cause me to strongly reject framing any group of people in way that imputes a negative connotation or driver in total.

Did you know Thomas Jefferson struggled with debt and died in need of charity (basically) to keep Monticello? After his death his estate had to be liquidated.

Revolutionary war veterans (another great generation?) returned to their farms and homes facing debt collectors as the U.S. Struggled to pay back war debts (btw a burden that was not placed on WWII vets). See "Shay's Rebellion" as to what happened due to aggressive debt collection on those men, their families and neighbors.

I worked with some of our commercial accounts when I was in the lending area. We only offered balloon notes to our best commercial (read savvy established borrowers) customers. I was shocked to learn those types of instruments were being offered to the average joe and Jane borrowers, let alone with NO down payments. I thought truly, the lenders have lost their minds because that was a sure fire recipe for defaults. I knew that and I was not some big powerful muckity-muck making 6 plus figure salary in the financial sector. I didn't think I was smarter then the average person working in the lending arena, it's like they thought they thought they could suspend the laws of gravity too. The reason you get a down payment is so the borrower has some skin in the game, (duh?) yet those goobers ignored some of the most basic "safety rules" of lending. Now that is criminal if you ask me.

I'm not trying to change your mind as much as soften your view and pull back from the harsher comparison of the average borrower being 'addicted'.

I'll get a little bit personal here just to draw a contrast.

When it comes to people and debt we have a tendency to be very harsh.

Another practice that is legal (re: debt) in this country is medical debt collectors to contact people who are, quite literally, on their death bed, asking/demanding payment.

I'm not there..yet....but can see how easily I could be.

We are not what we think but rather what we do as a country. What we do is not matching up to what we believe.....
 
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