“Mortgage balances increased by $131 billion, notably the largest cause of household debt.”
Which means there is something to show for the debt, unlike the $37 trillion of Federal debt.
The sad part of the huge debt is there is no way it ever gets paid back, or even down. The old adage if you owe the bank 10K the bank owns you; if you owe the bank 1 million, you own the bank is becoming truer. The student debt in total is the equivalent of the debtors owning the bank in that adage because there is no mechanism to get the money back as delinquencies just middle finger the collectors. The largest percentage of those not paying is debtors owing more than 100K.
I wonder if the delinquency rate includes student loans. Federal student loan collections were to begin on May 5. Previously Biden schemes masked defaults and delinquency rates. Total student loan debt is about 1.6 trillion, more than total credit card debt.
Sorry, that was me. HSN and QVC had a sale....................
I guess we need more stimulus. Let’s slash rates and get this party started! //sarcasm
Debt is a heavy chain around the neck for the poor and much of the middle class. It is a tool for wealth building for people who know how to use it properly.
Not a penny for almost 20 years. On a 4-6 week Coddiwomple to Montana/Idaho on the Harley, paying as I go.
A quick look at my household balance sheet.. Let’s see, no debt here. None since 2023. But I did purchase $500 worth if ETFs when the market opened and placing an order for a 1 oz American old Eagle Tomorrow. And still no debt. If I can do it, anyone can do it. Discipline folks
US Household Debt Rose but 20 million illegals had nothing to do with it huh Moe.
I run the ArmstrongEconomics scam site.
The worth of my advice can be measured by my three bankruptcies and losing over $700,000,000 of my clients' funds in bad trades.
That failed ponzi scheme got me eleven years in the federal pen.
signed, Martin Armstrong
“The ONLY way to defend against our insane Neocons is to pull together as a united front with Russia, China, North Korea, and others against the West.”
1 posted on 8/4/2025, 12:40:57 PM by delta7