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rentingman
Posts:447
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| 12/01/2008 1:55 PM |
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From Union Tribune
Matt Sauer, a young, single mortgage broker, planned to get rich quick after graduating from college. By age 28, he owned properties in Pacific Beach,
To save money, Sauer, now 30, cut back on dining out and moved in with three roommates. He also has re-evaluated his views on debt.
This has been one of my biggest concerns about the future of economic growth in the United States. There has now been a generation that has basically only known get rich quick through bubbles. What began in 1997 with dot com stocks and companies hurdled into overdrive in 2001 with housing. While Matt Sauer goals were noble many more in this generation only desired vacations, bottle service, and designer clothes.
I would like to know opinions on how the economy will grow again as Mr Sauer has his properties foreclosed upon and a generation of diversified liberal arts majors no longer can list flipping (stocks, homes, beanie babies, etc) as their desired career path.
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Brian
Posts:2617
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| 12/01/2008 2:09 PM |
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Here's the link.
http://www.signonsandiego.com/uniontrib/20081128/news_1n28credit.html
Interesting that this gambler is also a devout Christian who wants to become a missionary. I like said before, to some, real estate is like religion . If you don't have faith you're not worthy in their eyes.
Now he quotes the bible:
“Like the Bible says: 'The borrower is the servant to the lender,' ” Sauer said. “I am enslaved.”
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rentingman
Posts:447
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| 12/01/2008 2:18 PM |
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My bigger concern is not the merits of becoming a missionary is that there is a generation that thought they could get rich flipping and then spend the rest of their time on leisure or limited economic benefit careers.
How does the economy grow if no one is prepared to go into an office and work on technical improvements if this is what they are trained to do?
I have spoken to some that have flat out said I cannot have a job where I work 9 - 5. The find it an insulting career. |
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Brian
Posts:2617
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