Credit is never used wisely. It's always a net negative for society. Those who can afford credit, don't need it. Those who can't afford credit are forced to take it when others take it. Credit is like the PEDs of people's economic lives. It inflates the cost of things, forcing others to take credit to keep up with basic necessities like shelter.
We should take this to another thread. BTW - the high cost of building a home today illustrates why the cost of housing is not only a function of available credit.
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