Question: Most of these people are in debt up to their teeth and beyond. > I live in Southlake, TX. The average home here is $350,000+, with > many in the $500,000+ range. They are owned by duel professional > families (he’s a doctor, she’s a lawyer, etc).
> Most of these families are living on the edge. The market has killed > many. There are numerious for sale signs. Some have been forced to > downgrade to smaller homes. $4000/month morgage payments are not uncommon.
> I have a friend who is an commercial pilot, currently fearing for his job. > He told me that he could not afford to be out of work for a single > month or he would lose everything.
> Life in the Fast Lane.
Answer: Wow, that’s a pretty scary way of doing it. I would have to assume that there are quite a few people making that mistake though. When realtors are telling us that we can qualify for 2 1/2 times our yearly salary on a home loan, it seems like that would be pushing the limit for many. Especially when they add in the new cars that are usually part of the “look at me” show. 
Joe
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