Writer Damon Darlin asks, "Can middle-class American consumers save like immigrants of more than a century ago? Can they change their mind-sets and lifestyles in order to accumulate capital and work down debt?"
Excellent discussion point, though I got sidetracked with the promo ad next to the article for a South Beach feature in the Times.
2 comments:
Often I think about my family a hundred years ago. They were immigrants from Italy that worked their butts off to eventually own property in NYC. It did't take them very long. Today, I think about myself and noticed how things have regressed. I now live in a tenement in the LES. The same neighborhood my family worked hard to get out of. The thing is, as hard as I work, I don't see myself being able to ever save enough to afford property in NYC. So I guess it makes sense to live it up a little. It can kill the pains of reality.
Ken you have a good point.
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