Comment Nah, it's mortgage rates (Score 1) 160
My guess is that housing is a big part of it, but this crappy article doesn't touch on mortgage rates. People aren't saving for home ownership because interest rates are so high that there's just no point.
First-time homebuyers are priced out, and existing homeowners are locked into their old rates and can't upgrade. So instead of saving for a down payment, people are just going out to eat, going on trips, and buying a lot of stupid little things that make the consumer spending metrics look skewed.