About 2 years ago when I was unemployed my youngest and wife moved into a newly built home. They purchased the land several years before. As soon as it was paid off, they had a large house built on it. The Boss and I, as well as her father, advised against getting that deep in debt. Just the 2 of them live in about 2500 square feet of new house built on 5 acres. It takes both of their incomes to pay the bills.
Last summer(?) my son lost his job due to his employer being bought out. He got another job, but for less pay. Now his wife has lost her job, and she's in a panic. There's no way they can even make the house payment on just his salary. Instead of saving and working their way up by starting small, they took the big leap into a deep pool.
I know they're not alone, but that knowledge doesn't help. They're in financial trouble now, and I can't help much. I was forced into taking a job for less pay a year and a half ago and my future retirement investments are dropping like everybody else's. I'd have trouble paying my bills if my father-in-law wasn't paying us rent. Without him my house would be on the market. With the housing market as it is, I'd take a beating.
I suppose if they lose their place they can move in here with me and the Boss or with her folks. We have the room.
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