When will people stop getting loans, mortgages, borrowing money etc?

Never since most people don't have the money for a home without a mortgage. Leverage is important without it people might be 60 before they can afford even very small home. I only ever knew one family who totally refused debt they were from Russian and didn't believe in debt. They raised one daughter but only had an apartment until she was finished with college when they got a little 2 bedroom house when they were elderly.

I won't live that way I rather have a house when I was young and pay it off over time than rent for 40 years saving to pay cash. I bought one in 1985 that was 51.5K with 11.5K down so the payment was the same as my old apartment and got twice the space sold it for twice what I paid after having a roommate since 1986 so it cost me almost nothing to own. Why would saving to pay cash have been better, in 10 years I might have saved 40K but the price would have then been 100K. I don't do car loans or credit card debt but mortgages are a good thing.

And what about the people who would save their entire life without security of a place of their own, and while watching a lot of their earnings go into a landlord's bank account?

Yes, in an ideal world everyone would be able to afford a property without a loan. But that's simply unrealistic.

Most individuals are not financially in a position to pay all cash for a house or large ticket items. Even those with the financial means to pay all cash for a house, normally would apply for and be approved for a mortgage loan.

It is not good financial sense to pay all cash for a property and not have sufficient savings. You would be equity rich and cash poor. In the event you have sufficient funds to pay cash for a house, and you use all or nearly all your case to purchase the house, your net worth would be the value of the house.

If the house sold for $100,000 this would be your net worth. If you placed 20% down on a house in simple math you would be worth $100,000 for owning the house and $80,000 for what you have in your savings account, thus your net worth would be $180,000.

If you were to save to purchase a house, it would be a long long time and you would not be able to afford that much of a house.

Using leverage, you are able to purchase a house, paying for it over a period of time. In this manner you would have two things in your favor, your house would appreciate in value, while the mortgage loan amount would be lowered with each monthly payment.

I do know many individuals that have the same frame of mine as you. I am not one of these individuals.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

When the economy collapses and no one could get a loan. You realize that 90% of people don't have the money to just buy outright, or they would, right?

When everyone earns $100,000 and they can buy a 3/2/2 bedroom house for $25,000. Will you sell your house for that amount? I'll pay cash.

Not likely to happen with big purchases like cars or houses. And not likely to happen for small items wither as long as credit putchses of small items are available.

Well I hope that you like moving into your new house at age 55.

Not happening in Reality of stuff.

Local adults can explain why

The invention of credit is largely responsible for modern civilization. You are welcome to rent a home for decades if you want, see what you have at the end.

Not gonna happen.