Originally Posted by
FiftySix
The 10 year old car example was for the debt discussion. As long as new cars are being bought and sold, people will have access to used cars.
It will be hard to make everyone get rid of the current way of car transport here in the USA until the cost of ownership is much more prohibitive for the average person.
I'm not sure what year that will be, but I'm pretty sure I'll be dead.
It is and has been prohibitive for a long time, but lenders keep offering more credit so people can pay to sustain their unsustainable lifestyles/budgets.
People basically keep believing that having credit is the same thing as having money, and what's worse is that once creditors' have control over people, they can threaten to raise their interest rates or lower their credit limits if they DON"T buy a new car every so often.
So you may be right that people won't stop driving, but it is not because they can afford to keep driving but because they can't afford to stop. Or rather, it is because they sell their freedom to lenders.