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Originally Posted by Danzig
you don't pay a car note, own a house with a mortgage? i have very little debt myself, but i have some all the same. you can make debt work for you-i mean, who can save the tens of thousands of dollars it takes to buy a house so as to avoid a mortgage?
and go tell all the autoworkers they're all out of work, as no one can borrow. yeah, that'll make their day.
and everyone who has a 401k is in the stock market to some degree.
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I keep fixing up my '87 Honda Civic(actually it's a very popular model,) and 2000 Ford Focus. Most new cars are overpriced, and most people can't afford them. So, they get loans. If they didn't get loans, then car prices would be lower. Cars would have to be sold for what people can afford(rather than what they can get somebody to give them a loan for.) Houses would never have been as expensive if prices hadn't been pushed up artificially by mortgage companies wanting to make more n' more interest n' fees off loans they shouldn't have offered. Now, it's a bad thing that people have to live within their means? I don't think so. Fewer loans will result in lower prices, and you wouldn't have to always pay a bunch of money to loan companies. If only reasonable loans were made, then houses would be more affordable. We have to get off the easy credit baby bottle. That's what this really is all about, and people don't want to give that baby bottle up easily. We must do that. I'm not talking about stuff like student loans. I mean car loans, house loans, and high interest credit cards.