Banks have lots of money and are very willing to let you have some! That's how lots of people are so rich and well off, they're in debt over their eyeballs. Like my mom said, "If you don't have the money, you can't have it." Period. Everyone wants the life of luxury, but seriously live within your means people.
Or as my mum used to say "Fur coat and no knickers". It roughly translates to he same thing.
I agree wholeheartedly,just who are they trying to impress?
I'll admit my wife and I were late onto the property market but when we took the plunge we didn't overstretch ourselves,this had paid dividends in the long run as we've ridden out some interest rate changes etc while others have fallen at the roadside.
We remain debt free despite me losing my job three years ago and trying to make a go of it myself,with all the financial stresses that can cause.
Thankfully we will be mortgage free in another 6 years and barring any disasters will be much better off as our house has so far doubled in value.
This falls into to our possible future plans for returning to my wifes roots in the South of France,me,our three cats and last but certainly not least,my truck! (Which incidentally I wouldn't have had if we'd bought bigger in the fist place).