Anecdotal, but I'm seeing a lot of folding phones in public.

I look at the prices and wonder how some of the people I see with them can afford them. But using them is probably many people's favorite hobby at this point?

Probably carrier financing. Most carriers will offer 3 year monthly payments for phones, along with other promos that come along with bill credits w/ trade-in, etc.

I doubt many are dropping $2,000 cash on the new phones but are more likely getting it financed as part of their phone plan.

Most of it is your tax dollars. I have two friends who aren't officially with the mother of their kids in any way on paper so that they get as many benefits for single mothers as possible.