There is a difference between the money borrowed to purchase a house and most other purchases. The house will build equity, most of the other stuff you mentioned, plus much credit card spending will not. Unless you defer all maintenance on your house and let it fall apart, when it is paid off it should be worth at least as much, if not more, than you paid for it. Your car, boat, motorhome, jet ski, etc. will very possibly be about shot by the time you get them paid for. Much of our federal spending is much more like buying a jet ski on time, rather than a house. Unless you are off on your statement about how much debt you are carrying, if you own a $105k home, which is four times your annual income, if you have an annual income of $25k and you have a motorhome, boat, etc. that you are making payments on, I don't think it will be long before you head to bankruptcy court.