Dr. Warren notices the return of layaway

I have a tremendous respect for Dr. Warren, as she's been tracking problems with bankruptcy and the use of credit cards for years and years now, analyzing reams of data (mostly government data) to better understand financial failure and how it occurs.

Today, Dr. Warren noticed a K-Mart ad for lay-away, something I haven't seen in years myself. I remember in the eighties and early ninties when every Wal-Mart had a prominent lay-away counter in the back. As Dr. Warren points out, though, people going to college right now probably have no memory of lay-away, as credit cards became ubiquitous by the mid-nineties and they started signing-up everyone for them.

As the credit card industry begins to contract (as it is expected to do), will lay-away return? Interesting thought . . .