Originally Posted by dmppdx
So since if I wanted to, I could cash out the equity in my house and cash out my 401k and buy a $400K Ferrari with that money, that means I can afford a $400k Ferrari? I don't think so.
Being able to buy something or make the payments on something in the short run and really being able to afford it are two completely different things.
Bankruptcy courts are filled with people who don't seem to know the difference.
You're just assuming we're all car rich and wallet poor. That's a pretty stupid assumption.