It’s possible that certain “normal” things have become unaffordable for the middle class, but easy credit is temporarily hiding the new reality. If that’s the

It’s possible that certain “normal” things have become unaffordable for the middle class, but easy credit is temporarily hiding the new reality. If that’s the case, we might be giving a lot of credit to subprime borrowers at the moment. Increased delinquency and default rates seem to also point in this direction.