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It's not just the younger generation. Many people live way beyond their means, live paycheck to paycheck, and have sky-high mortgages. There are people in my family who keep moving their credit-card debt between different cards to avoid paying interest. I have always been afraid to have any debt- I hated getting my first mortgage. Now, I have no debt at all, everything is paid for. In some ways it's unavoidable for people now, because of the huge cost of real estate. I got my three-bedroom, two and a half bath home for 97k in the 90's. Now, a house that size would be over 300k. I'm not surprised so many twenty somethings still live with their parents.
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