I think “adequate for your needs” can be very broadly interpreted depending on who you ask. I agree with you that four walls and a roof “should” be all the people need. That is something we struggle with even now. Yes, we would like a new house but we know that its not in our best interest at the moment to pursue that. Right now, “adequate for your needs” is exactly what we have. But there are times when we feel that we need something bigger. If someone came along with a golden carrot and waved it in front of our face, we might just grab it but only if it fit into our overall financial plan. I feel that is what is wrong with the government right now. They are waving golden carrots in front of people that they know probably wouldnt budge if not tempted. People that are secure in their financial lifestyle. An incentive for first time home buyers was one thing but trying to get people that are established in their homes to “upgrade” for the sake of jump starting the economy is just wrong.

Second, “adequate for your needs” means different things to different people. Some people feel that just having four walls is all they need. Like you and sister have a nice home, it could be said it is “adequate for your needs” but you want a new one. Every body has their own reality and at the end of the day, we each get to choose how we spend our money. But once people decide how to spend their money – own it! Don’t complain that the government should bail you out or that you shouldn’t have any debt.