What does a young person do these days if they are in their 20s or 30s, want a family and a home?
When they date someone of interest, (in many, if not most cases) they will learn from the object of their new found love, that the other person has tens of thousands of dollars of college debt, and often thousands more of credit card debt post college?
What do you do? If one person has little or no debt and the other is overwhelmed, how does family formation proceed?
There
is no way out of college or credit card debt these days. The college
debt was created by our government and can't be eliminated (except for
volunteering years in a third world country). The U.S. government
created 100% insured college loans which means that lenders exercise no
judgement in restraining debt limits. Bank loans might as well be
approved by an ATM machine.
The U.S. government recently did the same with bankruptcy laws that effect credit card debt. Thanks to Congress, credit card issuers exercise little or no restraint.
So what do people do? Look for others without debt if they have none themselves? Look for others with debt, if they are swamped themselves?
My young friends tell me that this subject usually awaits the forth date before it comes up.