Yes, as long as the HELOC has been drawn on.
I believe Moore is using the data from the Fed Funds Report.
"I believe Moore is using the data from the Fed Funds Report."
Looking at the data it still looks like a considerable amount of the debt to asset ratio is factoring in those above the middle class annual income bracket, top end of which I believe was last listed at $94k. If it accurately represents only the middle class then I must be dead-center in an abnormally high group of very unlucky people as my own debt-to-asset ratio is 86% and I can't find a single soul (except for a couple near retirement geezers who are SERIOUS penny-pinchers) that are doing any better than 63%.