| Online: | |
| Visits: | |
| Stories: |
| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Average total debt per American with a credit file: $53,850
Tuesday, July 29, 2014 13:14
% of readers think this story is Fact. Add your two cents.
Debt can be constructive, allowing people to build equity in homes or finance education, but it can also burden families into the future.
Total debt is driven by mortgage debt; both are highly concentrated in high-cost housing markets, mostly along the coasts. Among Americans with a credit file, average total debt was $53,850 in 2013, but was substantially higher for people with a mortgage ($209,768) than people without a mortgage ($11,592).
Non-mortgage debt, in contrast, is more spatially dispersed. It ranges from a high of $14,532 in the East South Central division to a low of $17,883 in New England …. http://www.urban.org
Source: http://luismmx.blogspot.com/2014/07/average-total-debt-per-american-with.html
