I'm not sure how common 10-year-old cars really are. I feel like I don't see that much, at least amongst the middle class. For the house, what you're describing could be $75k or >$1MM depending on location, square footage, and finishes. I know a lot of people are "house poor", though.
> So it's not that I'm disagreeing, people can dig themselves in a hole by overspending. I just don't think this is particularly common, or some sort of national sickness.
Based on the published debt and savings stats, it seems like it is pretty common. I know a lot of people with almost no savings, and not always because their income is too low to save.
> So it's not that I'm disagreeing, people can dig themselves in a hole by overspending. I just don't think this is particularly common, or some sort of national sickness.
Based on the published debt and savings stats, it seems like it is pretty common. I know a lot of people with almost no savings, and not always because their income is too low to save.