Househunters International

Okay, I admit I am a sucker for this show. I like looking at the various locations (as I do on Anthony Bourdain's No Reservations-- and i WANT his job!). Anyway, catching up on a few recorded shows, I am continually struck by how Americans just cannot stop spending.

I just finished an episode on the Turks & Caicos where a NYC family is going to buy a condo for $550k that would rent for -- drumroll -- barely enough money to cover the annual maintenance on the thing.

I don;t get it -- you can rent a great place for a few grand or tie up lots of equity and disposable income to be able to say you OWN it. Gawd we are suckers...

Another episode was for the Dominican Republic, where the couple bought an equity share type of thing for FAR more than they could just rent that place for given the few weeks a year they would use it. Amazing.

And now I just started one where, house one is small house in the Belize jungle in the middle of nowhere for a couple hundred grand. WHY?

Are we just so indocrinated to the need to OWN things that so many of us are incapable of figuring out how ridiculously expensive it is to be saddled with these "toys"? Apparently the Great Recession still hasn't taught enough of us. I guess when Peak Oil arrives at $200-300/bbl we might learn, huh?