Archive for the ‘Debt’ Category
I was reading a blog today about the economy and one of the commenters mentioned that americans were over extended with credit. In fact, I found out that they average credit card debt for a household is around $8600. The average mortgage debt is $192,000. That’s probably between $800-900 billion in credit card debt and somewhere around $17 trillion in mortgage debt in this country. These numbers may be conservative as there are over 116 million households in the US. Can you say over extended?