How they get there...

“The poor get poorer by acting rich, and the rich get richer by acting poor.” (Seen on a wall plaque) Ain’t it the truth. One major contributing factor to the current real estate crisis was the number of people who tried to act rich by over reaching on their house buying. Even today, I have to counsel many first-time buyers not to over reach and to consider the taxes that they’ll have to pay on that distressed McMansion that they covet. Most seem to think the taxes are going to magically go down and be based on what they paid for it. Not true! So, even today in the midst of the “Great Recession” we have poor trying to act rich, or at least to live like the rich.

I tries to think of examples of the rich acting poor, but mainly came up with examples of the rich acting poorly, such as the Wall Street greed to precipitated the crash that is now called the great recession. I suppose that there are at least examples of the rich acting almost normal, such as Warren Buffet’s apparent modest lifestyle; however for every Buffet there are hundreds of stockbrokers and bankers getting outrageous bonuses and living large out on Long Island or on Monterey Bay.

There are all sorts of sayings and plenty of advice for trying to find happiness and contentment with what one has in life. There is even religion-based advice to give away some of what you have in life, in order to find fulfillment. The best advice is likely to be happy with who you are and what you have and get on with life. And, if you do need a house, give me a call and we’ll find just the right, affordable place for you.