I agree people do over commit and who is to blame for this?
People should be responsible for their own actions. The theme of late is that when something doesn't go as thought it is always someone elses fault.
When I see someone on the news with 7 children and one on the way and living in a new home with plasma wide screen tele, all new furniture, a nice new car and complaining that they can't make ends meet because interest rates just went up and it is all the goverments or banks fault, that is a concern.
Live within ones means.
I am 51 and live in the same little 3x1 I raised my family in and live well within my means. If I make a mistake it will be my fault and nobody elses.
I will agree on one point. The lending practices of some institutions in recent times should be held to account. Loans being given to people who obviously had no capacity to pay should rates rise, should never have been given the loan in the first instance. This I personally found immoral and negligent on the lenders behalf.
