Has nothing to do with the economy. It’s people’s consumer credit catching up with them.
With several factors causing the surge, you are correct in that the most significant is people living beyond their means.
Maybe not even that. How many of those properties are owner-occupied residences, as opposed to investment or speculative purchases?
The information in this report means very, very little ... except that we’re all supposed to believe the sky is falling and vote Democrat.
Suze Orman would be so proud! (you’re dead on!)