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A comment on Debt Worldwide Hits Record $86k per Person. Parent comment

Re:Debt Worldwide Hits Record $86k per Person by nikanj on Friday December 14, 2018 @05:20PM (#18685402)
Previous generations bought homes in early 20s, and paid off their mortgages in 7-10 years, so by their mid-30s their housing expenses were rather low. And inflation helped with the payments too.

Our generation gets 25-year mortgages, and very little help from inflation.

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Re:Debt Worldwide Hits Record $86k per Person by sciurus on Friday December 14, 2018 @08:56PM (#18686546)
When were you born, and what country do you live in?

As someone born in the 1980s in the USA, I don't think this is true. I believe that the 30 year mortgage has been the standard here since sometime in the mid 20th century.

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Re:Debt Worldwide Hits Record $86k per Person by Spooky23 on Friday December 14, 2018 @10:54PM (#18686948)
My my area, which had median home prices most years, houses were 40-60% less expensive in real terms.

Another thing to keep in mind is that there far fewer homes and people made a lot less money.

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