Interesting article from Jordan Weissman in The Atlantic. I agree with this. Far too many people overextended themselves in the 2000s. OTOH, expectations of financial improvement were created in the 1945 - 1975 timeframe that were simply unrealistic. As Fukuyama points out, US family incomes crested in the 1970s. So people were just trying to achieve the same improvements in their standard of living that their parents did.