As someone who has worked in banking, I guarantee is not mostly "low income" type of "paycheck to paycheck." Most people I saw come in for mortgages were often making 6 figures together if married. The reason they were often dirt poor is they treated their house as a equity fund to cash out on refinances all the time. On top of that they'd just have extravagant spending habits. That's not to say they aren't warranted because they certainly are. This concept of "paycheck to paycheck" should only apply to people below a certain threshold because often these people are the ones that it does matter most. Not people who budget for trips to the Barbados every year, have two $50k trucks and $400k house. These are people you should laugh at for living paycheck to paycheck. Simply because they are living extravagantly but subtly pretending that they have no money.

Try Vancouver or Toronto where the average detached is 1.4 million. No one here is laughing

Another survey says debt is being used to cover this. Over 60% couldn't pay for a $1,000 emergency expense without using debt:

https://www.cnbc.com/2021/01/11/just-39percent-of-americans-...

>without using debt

Yes, exactly. Living without debt is not a mainstream lifestyle for Americans, but these articles imply it is the only way, without quite saying why.

Because in some people's environments, if you're not registered with a corp and carrying the latest iPhone or other relevant status symbol, people ask what you're doing with your life & make you feel like a derelict piece of shit.

Borrowing money doesn't mean borrowing every penny you can, nor does it mean buying anything specific.

Some people believe that borrowing or lending at interest is fundamentally wrong, but I never see these articles make that assertion and explain the basis for it.