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Money and Finances
Reply to "WSJ Affording a Family"
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[quote=Anonymous][quote=Anonymous]I grew up in the 1970s in upstate NY in a middle-class neighborhood. We had plenty of larger families (Irish Catholics and Italians!) in small houses. 5 kids for a 2-bedroom house would not have been unusual, although very likely as the kids got older, they would bump out the house or renovate an attic space or garage to add another bedroom. So it certainly is one way that working class or middle class families can afford a large family- [b]kids share bedrooms and you don't save for college[/b].[/quote] I think this is a big part of the budgeting pain. People overextend on mortgages for unnecessarily large properties. Add in the college savings anxiety. When people talk about the prior decades of ease we forget that McMansions were not a requirement (a modest saltbox was acceptable) and saving for college wasn't widespread. And college costs were considerably more moderate compared to today.[/quote]
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