![]() When you trade up to a more expensive home, there is pressure for you to spend more on every conceivable product and service. The reason why so many homeowners today are having a difficult time making ends meet goes way beyond mortgage payments. The type of home we live in and where we choose to live often takes the greatest toll on our financial wealth, and from it, all other perils flow. In other words, human beings have an innate tendency to act and be like those around them - to fit in - and even compete. ![]() If you live in a pricey home and neighborhood, you will act and buy like your neighbors. I believe the greatest detriment to building wealth is our home/neighborhood environment. What we don’t realize is that the true cost of living in certain homes and neighborhoods is unseen but truly devastating. We’ll begin with a general overview of how buying an expensive home can hinder wealth accumulation. How an Expensive Home Can Impacts Wealth Negatively There’s lots to share, so let’s get to it. When I posted Stop Acting Rich Overview and Thoughts on Wealth, Habits, and Happiness I promised that I would follow up with some thoughts from Stop Acting Rich: …And Start Living Like A Real Millionaire on home ownership and how it impacts a person’s net worth.
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