By definition, if you are taking out a loan for something, you CAN'T AFFORD IT.

Trust me, there will be plenty of banks lining up, fighting over each other to give loans to people who can't afford college.

Then you were living in a place that was too expensive if you couldn't afford it. You needed a roommate.

Then you were living in a place that was too expensive if you couldn't afford it. You needed a roommate.

You do know I using US census statistics? I never said I couldn't afford it. I was just saying that when I was in CVG, I couldn't find anything bigger than a 1 bedroom for under $1,000. The median family made less than me and also included kids.

Are you telling half the country that they should have roommates? Half of the US population can just find a cheaper place. There isn't enough housing. The point I am trying to make is that the math doesn't work for the majority of the population.

While people like you just think the rest of the country should pull themselves up by the boot straps, the Fed and the stock market don't want Americans saving more than 8%.

Thats not entirely true. I have taken out loans for things that I can afford to buy outright. Every once in awhile you can get a big ticket item like furniture or a TV financed at 0% for a year. I would take, if I were in the market anyway, 0% for a year over paying right then outright. Even 1-2% interest may be worth considering depending on your timeline, alternatives and expected returns.

I will grant you that most people who take out loans can’t afford what they are buying, but that doesn’t mean it is bad. Loans are good in that you trade future money for present money. Mortgages are a good example in that most cannot afford the price outright but can afford to pay more than the price in 15-30yrs.

A college loan may be worthwhile, but I would say not at current prices and current prices only exist because of government control of the student loan market.

A loan, like any other financial instrument, needs to be understood and weighed against other options. I would agree that most people may not know how to or actually do weigh the loans they sign or fully understand what is happening. I blame that on the public schools, they should be teaching finances, but in my experience they do not.

If there is not enough housing, or enough affordable housing, that is generally the result of zoning laws and rent control in that particular area. SFO and NYC a good examples of that, you either can’t build new apartments or the ones you can build will not be profitable. So, instead, builders build what makes money and you see either luxury apartments or office buildings going up.

Can you please elaborate on how the “stock market” and the Fed do not want you to save more than 8%? I do not understand what you mean by that.

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The 50's middle class paradigm flipped and sank a while back. It's not going to be possible to capitalist tool/sub shop chain a way out either. Government WILL lead the reform. The question remains, how proficiently can it be done? Lincoln/FDR style or Maoist. So many skills so many of you possess, remarkably early development obvious to those of us old enough, honest enough, to compare. Advanced from birth almost. Tomorrows are open for bid. Nothing is written.

The private market would probably still provide the loans. You also need to make them dischargeable in bankruptcy. Then the $100k for liberal arts degrees would dry up

So this is basically anyone who ever got a mortgage?

Exactly, government needs to be out of the business entirely since they are the ones that made the loans bankruptcy proof.