Sad reality. Remember mortgage burning parties? Those were the days.
Debt is an anchor. One must break the chain. The major purchases (houses and autos) have outpaced wages ...

Not surprising as we've grown up in a financial system based on credit and leverage rather than on earning and saving. That's the major change instituted by Wilson and Roosevelt.

I wonder how many of these people responding to the survey mean they'll always use debt for business liquidity and how many mean they'll never pay off their consumer debt and never build any significant net worth. If it's the latter, that's really said. They're saying they'll always be broke.

Goodbye middle class.