If ever you wanted to know just how deep is the belief in consumption and big-ticket buying in this country, you need look no further:
USA Today: Student Loan Loads Block Home, Car Purchases
Amidst all the hand-ringing and “Someone must help our debt-ridden children be able to get more debt!” chants, you’ll run into this laser-sharp social commentary … emphasis mine:
One interesting fact: The high cost of student debt is stopping many young consumers from buying big items, such as new cars, homes and furniture.
Nearly 30,000 Americans commented to the federal consumer watchdog agency on the student debt issue, and many discussed day-to-day struggles.
One borrower, Debra, told the CFPB, “I can’t buy a house because of my student loan. I have to rent.” Another borrower, Daria, said: “These loans are stunting my growth as a citizen. No car. No home.”
Oh, the misery, the suffering, the ANGST these poor young souls must endure! They can’t go out and be Good Little Consumers straight out of college! All because of those big mean nasty student loans which they were forced to take on!
(And, I might add, over a year later, yet again media voices are lamenting how student loans are keeping a lid on house prices.)