Could alot of the debt in this country be linked to the need to "fit-in"?

I started wondering this when a fellow co-worker of mine bought a house 2 years ago because EVERYONE around her was buying houses. She bought knowing she couldn't afford ownership on her salary but she didn't want to be left out(oh brother,what a lemming!) and now she is in pre-foreclosure.





Could alot of the debt in this country be linked to the need to "fit-in"?

Could alot of the debt in this country be linked to the need to "fit-in"?
part of the problem is the american dream that was promoted so highly in the 50's. there are good reasons to go into debt to buy things, like a house, and a car, but we do need to be responsible with that debt. we cant run up credit card debt, then make minimum payments, while running up another card, then make minimum payments on that, and so on and so on. the other problem is that instead of buying a house that fits our needs, we buy one half again the size we need to "keep up with the jones's" or we by a mercedes instead of a ford. we buy a 1 ton crewcab pick up rather than the 1/2 pick up that we need.
Reply:Or the need to keep up with the Jones's.....which is probably the same thing.