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>>As the players change, the lessons of the past will be forgotten, or if not actually forgotten, minimised in importance. We've had housing crises before, but here we are again. The thing is, it's the children or the children of the children, and not the same players as the last time.
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>>For instance, people who grew up through the 30s have a whole different outlook than those who grew up through the 50s. The 30s is not actually forgotten, it's just that not much attention is payed to it any more.
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>My mom was terrified of banks her entire life. Her family lost everything before she was born and and they continued to tell the stories during her childhood years. My grandfather dissappeared on the trains for years (he worked for the railroad) and my grandmother didn't want anyone (not even the bank manager) to know if she had any money and how much so she hid her money in the attic. My Norwegian grandmother and grandfather buried their money under the house. My aunt and uncle dug it up when my grandfather passed away and my grandmother eventually reached the point where she needed to go a nursing home.

Yeah. I think a lot of us have horror stories from our parent's pasts. My mother tells how the kids (she was one of nine) used to follow the coal truck and pick up any bits and pieces that fell off, so they could have heat. And how they used to hide under the table when they thought the landlord was coming for the rent.

But at the same time, most of us don't think like that ourselves, and have very different outlooks than our parents about money issues.