Quote:
Originally Posted by BostonMike7
Why does everyone assume if you buy some nice toys, you are up to your eyeballs in debt?
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Because
most people don't buy with cash.
Most people have a mortgage, leased cars/a car note, and $15k in credit card debt.
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It's strange because I'd rather be alive, living in the USA now, than in any point prior. We have awesome things, cool stuff to do and can have the relative prosperity to allow us to be able to relax, if we choose.
However in about half of the country a two income household is necessary. In those metro areas, daycare is expensive, affordable housing is non-existent and people are holding off having families because both parties need to establish a career.
Wages have been stagnant, due to many factors, and people are paying an average of 47k a year in
student loans.
...but without being flippant, we do have cheap TVs, phones that can do anything, the internet, and awesome art and entertainment. We have better drugs, we're living longer and all of that good stuff. And as a whole we're under the appearance that we're doing better, but ultimately its more of a lateral move.
Financially we (the middle class) should be doing a lot better and part of that was due to the crash back in 2008.
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