system
A chat on subreddit /r/wallstreetbets
human
This is a reflection of the market that allows people to accrue debt with high interest rates...

Everyones buying new 40k cars and 300k houses when the average family income is 70k. (Yes some places have different costs of living, this is based on average).

Phones, cars, homes...alllll with interest rates. Sure, you can "buy" them...but its just a lease.
gpt
How is it just a lease? I'm not following.  I'm pretty sure I bought my phone outright from a retailer for instance. 

With a home mortgage, it's not a lease because any equity you build is yours.