USA HISTORY

Detailed explanation-1: -The expansion of credit in the 1920s allowed for the sale of more consumer goods and put automobiles within reach of average Americans. Now individuals who could not afford to purchase a car at full price could pay for that car over time–with interest, of course!

Detailed explanation-2: -Installment credit soared during the 1920s. Banks offered the country’s first home mortgages. Manufacturers of everything–from cars to irons–allowed consumers to pay “on time.” About 60 percent of all furniture and 75 percent of all radios were purchased on installment plans.

Detailed explanation-3: -The 1920s was a decade of increasing conveniences for the middle class. New products made household chores easier and led to more leisure time. Products previously too expensive became affordable. New forms of financing allowed every family to spend beyond their current means.

Detailed explanation-4: -Why Are the 1920s Known as the “Roaring Twenties"? U.S. prosperity soared as the manufacturing of consumer goods increased. Washing machines, vacuum cleaners, and refrigerators became everyday household items.

Detailed explanation-5: -During the 1920s, many Americans had extra money to spend-and spend it they did, on movies, fashion and consumer goods such as ready-to-wear clothing and home appliances like electric refrigerators. In particular, they bought radios.