- Apr 4, 2016
- 19,099
- 11,119
I know a guy who sells Toyota's in houston. He went from making 80k a year to 150k. Rented a downtown high rise for 5k a month, his living expenses skyrocketed. Bottle service every night etc.
The rude awakening will come when these guys start defaulting and the market crumbles because of it.
Foolish — should be taking advantage of that extra 70k and stashing at least half somewhere and kept on living how he was (unless he was in the slums or something). No damn need for a 5k mortgage