The days of trying to “catch up with the Jones’,” or flash like the Jim Jones’ (for my hip-hop peoples) and go into debt while doing it, is over. I always thought the chorus to the Big Tymers song, “Still Fly,” was one of the most irresponsible lines I ever heard. We are currently financially reaping for living like this:

“Gator boots with the pimped out Gucci suits
Ain’t got no job, but I stay sharp
Can’t pay my rent, cause all my money’s spent
But that’s okay, cause I’m Still Fly”

“Got a quarter tank of gas – in my new E class
Cause that’s alright, cause I’m gon’ ride
Got everythang – in my momma name
But I’m Hood Rich – dadah-dadah da-dah da-dah da-dah”

Our current credit and mortgage crisis proved that behavior should be a wrap. Face it folks, we are in a recession, and if Washington lawmakers don’t get their acts together soon – America will be teetering on an economic depression. Which why folks should start renting again.

Yes, we know the adage: “homeownership is the key building measurable wealth,” but the majority of Americans whose homes were foreclosed on within the past two years, could not afford them and in some cases, were duped by unscrupulous mortgage brokers. Why go broke, just to own a home? That doesn’t make sense to me, and this article that I read in Yahoo’s Real Estate section – “Renting Makes More Financial Sense Than Homeownership” by Jack Hough – seems to second my opinion. Plus, with the volatile nature of the financial sector these days, the requirements getting a home loan from a bank is stricter than ever.

Cats need to go back to basics – if you can’t afford it, don’t buy it. Playing it safe is the new sexy.