Spending that kind of moment on a product that gives you personal happiness for years up to decades and then will still have residual worth, which people save up for ages for, is an entirely different proposition than buying a product that may make you faster professionally, but which in the short time can also be achieved by a few dollars worth of subscriptions to a hosted model for even greater effect.
reply> people save up for ages for
replyAmericans by and large don't do that. Much of the population engages in discretionary spending with debt instruments. Combined with mass innumeracy, they're all oblivious to the true cost of their purchases because they only think of the monthly payment.
There are many payday loan operators and those willing to sell predatory loans to those workers you mention buying boats or RVs. I've yet to see a payday loan open up in SF to help tech workers buy hardware.
replyMost people in the US don't drive a new car, and used cars can be had for far less than $40k. An $80k purchase would be just shy of the median annual household income -- anyone who thinks nothing of that has financial resources far above typical. You are in a bubble.
replyAn $80k purchase is far more affordable when you're looking at an 84 month loan. You trade in your current $20k truck with $30k in debt on it for your $80,000 car, get a couple grand in incentives and a $10k down payment, and boom you're only looking at a bit under $1,200/mo in payments. The median household is bringing home ~$84k before taxes, hypothetical person lives in a no income tax state, they take home ~$5k/mo. Easy peasy, its not like you were planning on taking any vacations anyway since you're always working.
replyWhat matters is you've got the Duramax HD King Ranch TRD Big-Boy machine. Doesn't matter the cost. You can tow anything, drive anywhere, do anything, and do it all in comfort. Other than parking in a normal parking spot comfortably. Or even park it in your own garage at home.
I've seen this exact scenario many times personally.