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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.
Most middle class folks that I knew back in the nineties drove sedans, minivans, or small wagons rather than SUVs. Trucks were generally driven by rural folks or people who were in the trades and were not the suburban status symbols that they seem to have become in recent years.
Anyone who's dropping fifty grand on a vehicle for general transportation purposes is doing so out of choice, rather than lack of other, more affordable options.
Last edited by Formerly Known As Twenty; 03-12-2020 at 05:20 PM..
More than 189 million Americans have credit cards.
The average credit card holder has at least four cards.
On average, each household with a credit card carries $8,398 in credit card debt.
Total U.S. consumer debt is at $13.86 trillion. That includes mortgages, auto loans, credit cards and student loans.
The above is one reason I own stock in both Visa and Mastercard.
I don't know anyone with a mortgage.
I don't know anyone who carries credit card debt (that is, they pay the full balance each month.)
Healthcare is the number one problem in the U.S that contributes to debt IMHO. We have "so called" good healthcare, yet I just received bills in the mail totaling $2k for various medical bills and it's only March.
There two problems:
First, health care is expensive (for no apparent reason), which you point out.
Second, only now to you receive bills for $2K. For the most part, you probably had no way to find out exactly how much the medical tests and care would cost you when you consumed them. Had you known at the time that they would ultimately bill you for $2K, you might have decided to forgo those tests.
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