I'd argue that the presence of so many money sinks is why a lot of us don't own cars. Why spend money on a car when I can spend it on a laptop, smartphone, mus

I'd argue that the presence of so many money sinks is why a lot of us don't own cars. Why spend money on a car when I can spend it on a laptop, smartphone, music, movies, apps, case, screen protector, headphones... and I spend money on a whole bunch of other hobby-related things besides those. Really, what kind of money sinks did my parents have when they were in their 20s and 30s in the '60s and '70s? Video games weren't a thing, home video wasn't a thing, personal computers weren't a thing, cell phones weren't a thing (some of these existed in the late '70s, but they were extreme niche products the general public didn't know or care about). About the only consumer electronics that were around were TV, radio, records, and consumer audio/visual technology didn't constantly evolve like it does now: if you had a color TV and a stereo system (record player, radio, speakers), you never had to upgrade, and they were built like rocks and lasted forever. The only media you could buy were records and books. So that's it: you'd buy one TV and stereo system your whole life, you'd have a record collection and a bookshelf, and you had a pile of money left over. Why not put that into a car? See also: mortgages and expensive classy furniture, neither of which are particularly popular among Millennials either.