Keep in mind the major word here is young, they do have plenty of time to build or repair it, whatever the case may be, and just like you said, the lenders expect them to go into default, and with this growing apathetical/live for the moment trend that seems to consume most young peoples minds these days, it really can't be all that big of a surprise. I am 23 with great credit, as a matter of fact I got to experience pulling out of a dealership with a brand new hot little sports car with no co-signer for the first time in my life just last year in late October. If you're asking me personally why I think there are such huge problems with young people and credit, just as I said: I doubt they care and/or know better. As a child, I often heard of my grandfather struggling because he had multiple credit cards maxed out, so I vowed NEVER to have one, and then you can imagine how hard I was banging my head on the table when I heard baby credit was worse than bad credit in some instances. Anyway, I hope this answers your question.
User Detail :
Name : Joe, Gender : M, Race : White/Caucasian, Religion : Atheist, Age : 23, City : Houston, State : TX Country : United States, Occupation : I.T., Education level : Technical School, Social class : Middle class, I think much of the over-extension of credit is cultural. I am 23 years old and notice that most people my age need the nicest car, designer clothes they cannot truly afford, and other things. I drive a four-year-old Hyundai and own 2 homes. My credit score is in the 700s. Most people my age lack the financial knowledge. Also, if a person grew up in a financially stressed home, they may have never learned good habits. Many parents are screwballs with credit, so how does the new generation learn? I have a 23 year old acquaintance who drives a $50,000 Lincoln Navigator with $800 car payments. He lives with his parents and does not save money. This is typical of young people: indulging in things you can't really afford.
User Detail :
Name : Sherry27980, Gender : F, Race : Black/African American, Age : 23, City : Bakersfield, State : CA Country : United States, Education level : Technical School, Social class : Middle class, Well, in all honesty, I hate credit cards. I don't like the idea of using plastic to pay for something. I always use cash. I know I will have to start using one sooner or later, but I still don't like them.
User Detail :
Name : Logan19760, Gender : M, Sexual Orientation : Straight, Race : White/Caucasian, Religion : Catholic, Age : 19, City : Parrish, State : FL Country : United States, Occupation : College Student, Education level : High School Diploma, Social class : Middle class, 
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