Its not the American Need, its the American Dream.
In the American Dream, houses and cars are new. Gramma and Gramps live in their own home and are healthy. Mortgages get paid off not constantly refinanced. Mom and Dad get to go out to nice restaurant when they want and the family gets to go camping or to Disney World and the cost doesn't max out four credit cards. Parents in the American Dream can front the kids the downpayment for a starter home without taking out 2nd and 3rd mortgages. Real estate is handed down after someone dies not sold to pay medical debt or for nursing home care. Four years of college doesn't cost more than a house. in the American Dream, pensions are safe and savings are encouraged and bank accounts pay a reliable 3-4%. Wages rise not stagnate and jobs last for decades.
My folks had the American Dream. We owned our home (I remember my folks mortgage burning party.) We took vacations and every Christmas you got what you asked for (unless your parents got confused at Toys R Us.) My folks got regular raises, had affordable insurance and even with my mom having heart and cancer surgeries, our financial situation remained stable. Mom's job was not in jeopardy and when my folks retired, they had guaranteed benefit pensions to live a good life on.
Then came the Reagan Revolution
Anyway, the Dream was real for a little while for a lot of people. And now it isn't. And that's a fact. We can quibble over the cost of the dream but not the growing number of hard working people who will never have it.
And that's the point