Why are you looking for ways to null the ultra-conservative math and put down struggling Americans rather than reflecting on the actual problem to help Americans? What exactly are you doing here?
And you’re changing the numbers.
The $1,650 isn’t two $800 car payments. It’s the entire transportation budget for two car payments, insurance, gas, maintenance.
The average financed used-car payment alone is about $542, so two average used cars are $1,084.
Remember they don’t have any money to purchase the used cars outright, cause they have no savings.
And it’s not an “almost $500K mortgage.” It’s a $420K house with 7% down, leaving a mortgage of about $391K. I literally did the math for you in the post. That home is as basic as it gets, and that’s the American dream.
Where do you want them to live, cause anywhere much more desirable is much more expensive.
I deliberately made the example conservative. Average house. Average used cars. No restaurants. No vacations. No kids’ activities. No luxury lifestyle. Zero.
People are looking for reasons to blame struggling families rather than reasons to help them.
The problem in the math here is the two car payments each over $800 per month and the almost 500k mortgage.