Pursuits
Americans Splurge on IPads While Broke in New Abnormal Economy
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In March, Ralph Ronzio went to a warehouse in a seedy part of Orange County, California, and watched a man auction off his condo for half what he’d paid for it. Ronzio had bought the place for $329,000 in 2005, when he moved to Southern California from Rhode Island to take a job at a data-storage company. It was the first place he’d ever owned.
"It was totally my bachelor pad," he says. "Not much inside other than the usual leather couch and the big screen TV. My fiancée made me sell the couch."