"Nobody forced you to take the money." Prices rise to what the market will bear. Cheap debt means the market will "bear" more than it would in a less leveraged

"Nobody forced you to take the money." Prices rise to what the market will bear. Cheap debt means the market will "bear" more than it would in a less leveraged society. If everyone but me takes a loan, the price of tuition goes up. This means I now have to take a loan or not go to school (which means I can't get a job). Same happens with housing. If everyone but me takes out a jumbo mortgage, prices go up and I now must take out a jumbo mortgage or forego homeownership. As long as a degree is a required piece of paper to obtain most jobs, college will be a requirement. As long as rent offers no equity and mortgage interest (but not rent) is deductible, homeownership will remain one of the middle class's sole paths to the accumulation of wealth. Today's wacky "in-deflationary" economic condition can continue as long as central banks hold interest rates near zero and wages are stagnant. See also: https://en.wikipedia.org/wiki/Law_of_rent https://en.wikipedia.org/wiki/Law_of_rent