It’s a very basic human trait. It happens all over the world, and people have been doing it since time immortal. Comparing ourselves against how we perceive our neighbors, coworkers, family, and friends is the inevitable result of striving to get ahead in this world. For the last decade, American’s have increasingly relied on credit to ensure that their house was just as big as the one next door.
Unfortunately, as we’ve seen over the last few years, this trend has come back to bite many of us where it hurts most; our checkbooks. The Huffington post estimates that nearly half of America are liquid asset poor, and many might not even realize it. Too many of us now live at a barely sustainable level that leaves us vulnerable to a single financial blow such as a medical emergency.
Savvy real estate investors need to understand this all too familiar condition and keep it foremost in their mind. Making sure that you can afford to sit on a purchase for longer than you mind be comfortable with i