I was laughed at when I quit my Engineering to be a teacher in the middle of an economic boom. I was laughed at for not buying a house at 23. I was laughed at for not buying a car (or three), and instead riding a second-hand bike everywhere. But who's laughing now? DFM, that's who! I have no debt, and the housing prices are falling.
In fact, as far as I'm concerned housing prices can't fall far enough. While the prices have been soaring for the last number of years, now the housing markets are becoming saturated. It's a buyers market, and in a couple of years I'll be ready to buy (as soon as the prices bottom out). Also, that car you bought but now have to sell so you can make your mortgage... that's going to be mine. I gambled big, and it paid off. Yes! I rule!
But look on the bright side, it isn't all bad for you. Now all those much needed road repairs can be done when the government creates some make work projects to boost public morale. And remember all those doom and gloomers who claimed that this would be the first generation of youngsters to have a worse life than their parents? Well, good news! Now that we're in the "worst recession in 70 years" you're children can't help but have a better life. Corporate/fiscal irresponsibility will be curtailed and we'll have another 40 years or so before another big recession hits (when your grand kids decide that they don't to study history because it's boring).
Do I sound like a jerk? I'm certain I do. But there's not a lot of opportunity for teachers to be smug. I'm going to enjoy it while it lasts.
(Good thing I'm a teacher, or else I would have been hit by that Recession Truck.)