Equity Is Altering Spending Habits and View of Debt

The Los Angeles Times has a story about people using their mortgages to finance a lavish lifestyle.  All the while they are not saving for retirement.  WTF?

I don't get this mentality.  Especially with BushCo trying to kill SS and doing a good job killing the housing market with high oil prices and a lousy stock market.  My wife and I are waiting to buy a house during the first or second round of foreclosures.

To top it all off, these people have variable interest rates.  Inflation is going to create the first round of foreclosures.

Are you saving for retirement?