I entirely agree that borrowing for durable goods isn't a bad idea if you can afford it. My argument is that for the last many years normal households have bee

I entirely agree that borrowing for durable goods isn't a bad idea if you can afford it. My argument is that for the last many years normal households have been buying stuff they can't afford with money they don't have. And now that the housing prices aren't rising anymore they have serious trouble since they can't take out another mortgage on their house.