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SVTPerformance's Chain of Restaurants
Road Side Pub
the great recession of 2008
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<blockquote data-quote="50 Proof" data-source="post: 6333276" data-attributes="member: 24196"><p>I do, people spend way more they can afford so that they can maintain a lifestyle beyond their means. I see it all the time in California. Charge up the credit cards, when thats maxed out, cash out your home equity. Then they get to the point where they realized they are ****ed and stop paying on everything altogether, so it goes down as a charge off, reposession, etc, and everything goes to collections. It's really easy to screw your credit up. The hard part, for most people seems to be maintaining a good credit score.</p><p></p><p>See the thing is, in California, a lot of salaries definitely do not meet the cost of living. It's especially easy to live a lifestyle of debt out here because you have expensive cost of living, salaries that aren't high enough, and the superficial factor going on out here where people want everyone think they're a millionaire by driving 50k dollar cars on leases (meanwhile living in a 1800 dollar a month 500 square foot apartment).</p></blockquote><p></p>
[QUOTE="50 Proof, post: 6333276, member: 24196"] I do, people spend way more they can afford so that they can maintain a lifestyle beyond their means. I see it all the time in California. Charge up the credit cards, when thats maxed out, cash out your home equity. Then they get to the point where they realized they are ****ed and stop paying on everything altogether, so it goes down as a charge off, reposession, etc, and everything goes to collections. It's really easy to screw your credit up. The hard part, for most people seems to be maintaining a good credit score. See the thing is, in California, a lot of salaries definitely do not meet the cost of living. It's especially easy to live a lifestyle of debt out here because you have expensive cost of living, salaries that aren't high enough, and the superficial factor going on out here where people want everyone think they're a millionaire by driving 50k dollar cars on leases (meanwhile living in a 1800 dollar a month 500 square foot apartment). [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
the great recession of 2008
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