Easy access money... example: credit cards.. became popular 30+ years ago. Then the rise of using your home as a "bank" via equity. Prices can go up for just about everything if people have various types of borrowing power.

People will also pay whatever as long they think payments are affordable in their minds. That's the first thing people care about when looking for new/newer vehicles. "What's the payment going to be?" Look at all the rent-a-center type of chains that exist. People will pay 2 to 5x the cost of something so that they can make payments.

The middle and lower classes existence is an illusion. It's all based on debt on things that most don't really own. When the WEF said you won't own things and be happy... well that's already been around for a long time.