> Prices are a function of supply and demand, not of access to capital.
And easy access to debt massively shifts the equilibrium point on the supply/demand curves.
Cars, houses, college, even cell phones or furniture can have far higher market prices when people switch from paying full-price in cash at time of purchase to making payments over months or years.
And easy access to debt massively shifts the equilibrium point on the supply/demand curves.
Cars, houses, college, even cell phones or furniture can have far higher market prices when people switch from paying full-price in cash at time of purchase to making payments over months or years.