Report Inappropriate Comments

Actually that is completly incorrect. Perhaps if home buyers kept within a budget and kept the percentage of their monthly mortgage expense to just 38% or less of their income they would be able to weather any inflation, or fluctuations in commodities on the market. The bottom line is morgages should never have been given to many people. The banks were not looking close enough at the applicants, or didn't care. In addition, adjustable interest rate deals which looked good on paper and got people into homes was fine until the rates changed!

Economics is quite simple. Life well below your means, do not rack up debt, invest, and save. People just want what they shouldn't be buying because they cannot really afford. Cut the charge cards up, rent until you really can afford to own, stop buying expensive newer cars every few years, don't lease (waste of money), don't buy that 65" hd tv if you don't have the cash....

From: High energy costs triggered recession

Please explain the inappropriate content below.