I read all 46 pages of the Fed’s latest household debt report.
Total US household debt has reached a record $18.8 trillion. That's $4.6 trillion more than at the end of 2019.
Household debt grew b...
Millions of people are paying around 21% interest on expenses they already couldn't afford.
Americans owe another $1.66 trillion in student loans.
10.3% of all student loan debt is now 90+ days late. The worst since before the pandemic pause.
The average new-car payment has reached $770 a month. Even the average used-car payment is now $531.
5.6% of auto loan debt is at least 90 days late. That’s the highest level in records going back to 2003.
Americans owe another $1.66 trillion in student loans.
10.3% of all student loan debt is now 90+ days late. The worst since before the pandemic pause.
The average new-car payment has reached $770 a month. Even the average used-car payment is now $531.
5.6% of auto loan debt is at least 90 days late. That’s the highest level in records going back to 2003.