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Not to say that banks are completely fair, but qualifying for a mortgage is not close to impossible.  But as a society, we carry an enormous debt load.  We don’t save, and must have the latest and greatest things.  
 

and yes, there are certainly folks that are running up debt during the pandemic to keep the lights on.  They deserve better.  That said, this problem existed well before the pandemic and will be here once we are out of it.

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1 hour ago, CRBuff said:

Not to say that banks are completely fair, but qualifying for a mortgage is not close to impossible.  But as a society, we carry an enormous debt load.  We don’t save, and must have the latest and greatest things.  
 

and yes, there are certainly folks that are running up debt during the pandemic to keep the lights on.  They deserve better.  That said, this problem existed well before the pandemic and will be here once we are out of it.

And we can blame capitalism for it.  It's not "having the latest and greatest things."

Even compared to inflation, health care costs have exploded from $400B to 3.8$T (in constant, 2019 dollars) since 1970.

Education has outpaced inflation, increasing in cost by 25% over 10 years (again, in constant, inflation-adjusted dollars). We used to end WW2 vets and most other middle-income students to school for free with pell grants, GI Bill, etc.  Then states slashed those programs (especially the south, after civil rights; for the same reason they preferred to fill in their public pools with dirt rather than share them with black people -- then all pools ended up at private clubs and back yards).

Housing has similarly exploded, and since most of middle-income America lost their wealth in the 2009 crisis, only the banks were bailed out.  

When all of your basic needs gobble up all of your paycheck, how do you pay for other necessities?  Easy.  Credit.

 

No, this isn't about avocado toast and iphones.

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