Are most Americans in debt or just poor these days? (bankruptcy, 2013)

[Lycanmaster]

Both in debt as well as just being poor in general.

Especially when you into the account the "real" rate of inflation...

[Formerly Known As Twenty]

Originally Posted by Bubble99

But like poster said in the one of threads most homes cost $100,000 and some $200,000 in big cities in the 90s and now most homes cost like $400,000 and in big cities more.


In the 90s you could get new vehicle for $20,000 some even less and today new vehicle is like $50,000 some even more.


Rent now is $1,000 a month and some more costly cities $2,000 a month now.

You can still buy a nice (and new!) car for twenty grand (and, in some cases, under)--including taxes and fees.

There's no need to drop fifty grand on a car for general transportation.

[Lycanmaster]

Originally Posted by Bubble99

So we have debt problem to keep the middle class going in the US. And keep the fake economic system going.

It is the primary factor in keeping US standard of living at their current level.

Otherwise, we would be well on our way to looking like a Third World banana republic.

[Bubble99]

Originally Posted by Formerly Known As Twenty

You can still buy a nice (and new!) car for twenty grand (and, in some cases, under)--including taxes and fees.

There's no need to drop fifty grand on a car for general transportation.

But in 90s I know people who used to buy SUV and van for $20,000 some even less and now they cost like $50,000 some even more.

[Bubble99]

Originally Posted by Lycanmaster

It is the primary factor in keeping US standard of living at their current level.

Otherwise, we would be well on our way to looking like a Third World banana republic.

If the power be it government think we need debt to keep this middle class going some thing is really wrong.


Take away debt and you have no middle class that would be big shock to the US and people will start asking what has happen to the middle class.

[jasperhobbs]

Originally Posted by Formerly Known As Twenty

You can still buy a nice (and new!) car for twenty grand (and, in some cases, under)--including taxes and fees.

There's no need to drop fifty grand on a car for general transportation.

Probably a very small car for $20,000.

[skeddy]

well not to spoil the pity party but there are plenty of us around that live well and have no debt.

Now, back to the party!

[Hemlock140]

Originally Posted by Bubble99

But in 90s I know people who used to buy SUV and van for $20,000 some even less and now they cost like $50,000 some even more.

I paid $25,000 for my new 1990 6 cylinder Bronco. My 2017 F150 5.0 V8 has a lot more features, safety, and capability for $35,000. Sticker was $46,800, but today dealers are making much better deals than in the 90s.

[TexasLawyer2000]

Originally Posted by rya96797

What is your definition of debt? Any debt including mortgage? If so, then probably yeah. If you're talking only student loans, credit card, personal loans, etc. probably half debt.

Debt is simply a liability towards another. It most certainly includes mortgages.

[TexasLawyer2000]

Originally Posted by Bubble99

So the people running the show got this debt system to give illusion that there still is middle class.

You might want to learn more about debt. Obtaining debt does not take someone out of the middle class.