I've been quilting for almost 30 years and have worked at a LQS for 5 years. You'd think I would have a house full of fabric by now, but my entire stash fits in a 7-drawer dresser. I really need to go through it and get rid of some stuff, especially the old "Wal Mart" fabric.
I tend to buy when I'm starting a new project, very rarely do I buy fabric without a purpose for it.