Originally Posted by jrs.landscaping
Or maybe they were living beyond their means to begin with?
You can tell that around here by looking at the number of new home construction builds that were never finished and foreclosed on. I'm not talking about homes in sub-division were the general contractor went under.
We have several doctors/orthodontist/lawyers as clients, people who easily make 6 figures a year. Most of them live in what anyone would consider nice neighborhoods, but very few of them even drive anything more expensive than a BMW 3 series or Mercedes C class.
Now on the other hand we have several mid to upper middle class residential and those are the ones where you see the soccer moms in the 70k escalades, the 70k king ranch super duty and such. These are also the same neighborhoods with the most foreclosures and you frequently see the repo man coming out with his roll back about once a week.
Do you blame it on the people or blame it on the banks for allowing the people to live beyond their means?