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Vast majority of debt in the US is Tuition, Housing and Medical Complaining about avocado toast won't change that

• papito 5y ago
  Medical is one thing - housing and tuition is completely self-imposed. I make 6 figures in software but I went to New York City College. I graduated with zero debt (in fact, I got paid to study). And I am still renting at 40. Getting an Instagram home takes time and saving for decades. It's always been this way.
  • 1-6 5y ago
    This. I think too many people can think to a friend who purchased their McMansion at 30 and think to themselves that buying a home is unattainable. I realized that it takes constant self-reflection and discipline to build a 20-50% down payment on a 15-year mortgage WHILE socking money away for retirement, 529, and HSA. Granted, rates are lower than they ever have been historically but borrowing to get rich is still leveraging. I get ticked off when talking to real estate agents who only think leveraging is the way. To be honest, I don't have a credit score any longer. It's called manual underwriting!
• nostromo 5y ago
  The article linked is about housing -- specifically younger people buying more house than they can afford. I'm sure a similar argument could be made about education. I personally know a number of people up to their ears in debt for advanced degrees that have no economic value.
  • MrFantastic 5y ago
    The younger people that can qualify to buy a house aren't poor.