>Housing? Yep mortgages, people can rarely afford a house without a large mortgage

Bad example, mortgages keep jumping because property values keep increasing. Property values keep increasing because demand is exceeding supply. As more people can access mortgages due to lower rates, the demand shoots up and so does the property value which leads to a race to the top (bottom). Lol

>Cars? Yep, most cars are bought on finance, people couldn’t buy new cars without the finance.

Yea here we don't have a real lack of car supply. People are financing based on _wants_ rather than needs.