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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (96349)4/19/2001 2:24:42 PM
From: Les H  Read Replies (1) of 436258
 
I think you'd have to compare how much of it was "bought" now versus 20 years ago. How much equity in the house is one initially acquiring? How much of that car, that food, and gas is on credit? If things were that much more affordable, then how come so much of the non-discretionary purchases are on revolving debt? That "bought" car, for instance, isn't really yours, you're just buying the privilege of operating it for 36 months, 39 months, or 48 months. Much of the affordability for things like housing, education, medical care, etc. is being accomodated through leverage, work plans, government subsidies, etc.
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