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
&gt; everyone’s buying $40k cars

The US is sickeningly car dependent but $40k could almost buy 2 decent cars brand new so it’s hard to feel sympathy when American consumerism demands you have a brand new SUV/pickup (last I looked 70% of new cars sold in the US are SUVs/light trucks)

&gt; everyone’s buying $300k houses

Maybe in low cost of living areas that seems high but go within 100 miles of any major city and that’s been table stakes for going on 5 years now