Well, thank goodness we stopped doing that!! Tell me, what happened in 2008 which ended the era of "living beyond our means"?? [/s]
Dems forced banks to lend to anyone, Every other commercial was to take out a second mortgage on you house to take a vacation. The market for debt was the bubble that burst.
Now vast majority of US has less than $500 savings and large portion of home ‘owners’ are technically bankrupt as they owe far more than the house is worth.
The solution that is being applied is to inflate these folks out of bankruptcy and stimulate spending by making things more expensive tomorrow than they are today.
In 2008, borrowing on the credit card of housing price escalation came to an abrupt end.
I was amazed on finding out how many of the homes in our subdivision had borrowed more money (by extending their mortgage amounts) based on ever increasing values of their homes.