Lots of bad decisions
Our life course is determined by a series of decisions that we make. Some we make because we have to, others because we want to. Some of these decisions matter more than others. We might choose to marry or live with a partner: in other words, we form a household with at least one other. This involves making a choice, but also somebody else choosing us. Once we have chosen we expect, or we hope, that this relationship is permanent and we act accordingly. We make joint plans, and one of the most important is about where we live. We choose where we wish to live and how much we are prepared to spend. We need to decide this on the basis of what is available in the place where we want to live and how our priority for housing compares with other areas of expenditure. Is our housing the priority, or do we place a higher premium on other activities? Do we wish to forgo some activities – entertaining, going out, holidays – so we can afford our dream home now? Is our priority immediate consumption, or do we start to save for when we are older and need looking after, or for when we have a family?