After a few years of traveling with friends through different California cities and their neighborhoods, watching the housing market intensely, I’ve noticed the phenomenon that is the real estate boom and subsequent crash. What I don’t understand is WHY?

Why would adults sign a mortgage contract they don’t comprehend? Why would adults move into a 3,000 square foot mansion? Unless you’re a Hollywood celebrity or a business wiz with 15 kids I see no use for them. Why would a person go out and buy a big, expensive gas guzzling SUV after moving into their newly purchased overpriced home? Not to mention the jet skis, boats and, with almost certainty, expensive jewelry and couture? C’mon people. I have many, many more “why’s” but let’s keep my head from imploding.

Why would a person sign an interest only loan on a mansion that is way, WAY out of their league? Greed, plain and simple. Everyone dreams of the big mansion with the fancy cars and the Louis Vuitton bags. If you can afford it, and not many can on the salaries their making, good for you. The cities we went driving through were very small communities. I’d say between 20,000 to 50,000 populations. Guess what? You aren’t going to find Trump-like businesses there. It’s going to be Feed

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