“And a mortgage used to be something you were expected to repay. But now that every other middle-income family has a mortgage for an amount they couldn't possibly save up in their lifetimes, then the bank isn't
lending money anymore. It's offering
financing. And then homes are no longer homes. They're investments.
...It means that the poor get poorer, the rich get richer, and the real class divide is between those who can borrow money and those who can't. Because no matter how much money anyone earns, they still lie awake at the end of the month worrying about money. Everyone looks at what their neighbors have and wonders, "How can they
afford that?" because everyone is living beyond their means. So not even really rich people ever feel really rich, because in the end the only thing you can buy is a more expensive version of something you've already got. With borrowed money.”
―
Fredrik Backman,
Anxious People