Joseph, a sixty-year-old building contractor whom I first met some years ago, serves as a good illustration of this. For thirty years Joseph rode the gravy train, capitalizing on a seemingly limitless construction boom in Arizona to become a multimillionaire. In the late 1980s, however, came the biggest real estate crash in Arizona’s history. Joseph was heavily leveraged and lost everything. He ended up declaring bankruptcy. His financial problems created a strain on his marriage, which
