Finances why do people put emphasis on credit so much?

I teach a class that helps people break the cycle of debt that keeps families in turmoil. Why are Americans so inclined to start this destructive cycle of borrowing on every asset they have. Additionally, why is a 30 year mortgage the standard. Wouldn't it make more sense to get a 15 year mortgage and cut your term in half? The difference in payments (15 vs. 30) is not as much as you think.

I think it depends on where you live (as you said, Americans are for example rather inclined to get a mortgage) and on you family (if you parents had a mortgage, you kind of grow up with the idea that this is only natural)

this is not a question. but thanks for playing

We are a buy now, pay later society. I dont even think 30 yr mortgages are the norm anymore. There are so many hybrid mortgages I cant keep track of it all anymore.

I'll sum it up: all anyone wants to know anymore is - how much will it cost me a month.

If the difference in payment isn't that much, then the consumer can choose to keep the 30yr mortgage but make payments each month totalling what the 15 yr payment would be. That way, they can pay it off faster, but also have the fall back position of the standard 30yr mortgage payment if they have a tight month money-wise. And it's no fun to refinance if your money situation changes and you need to re-fi. You really screw yourself when you re-fi from a 15yr to a 30yr - basically going backwards and tossing away all your equity. That's why we stick typically with 30yr mortgages.