> But people need cars, so they are overleveraged. Which is a massive issue in itself too. In many parts of the US and Canada a car is necessary for daily life

> But people need cars, so they are overleveraged. Which is a massive issue in itself too. In many parts of the US and Canada a car is necessary for daily life, so everyone is forced to spend non-insignificant amounts of money on one or multiple cars, which is very wasteful.