After having read the article regarding the $1 million-plus houses that have had falling property values and even foreclosures (3/23, A-1, “An abrupt end for high life”), I am trying to figure out how I should feel about this. How does one even begin to compare a person driven by status and image when buying such a house to people who overstretched themselves just to finally be able, for the first time in their lives, to own a home?
Perhaps if the former had bought within their means and purchased a used Hummer or a “pre-owned” Mercedes, they would not have ended up in their current predicament. The basketball court and the spiral staircase might have to wait a bit also.
Wait a minute. I just figured out how I feel. Disgusted.