American Debt Is Mostly The Mortgage

If you own a house, this news may not surprise you…

The average American that carries debt is 140 thousand dollars in the hole. A new survey from GOBankingRates averaged out how much Americans say they own in mortgage, credit card, student loan, auto loan, and medical debt. At least half of all Americans have credit card debt, and 65-percent say they owe money on their mortgage.

Residents of Hawaii owe an average of almost 900 thousand dollars, ranking it the state in the U.S. with the highest average debt. Hawaii also ranked number one in overall mortgage debt, and tied with Maine for the highest amount owed in credit card debt. The Federal Reserve Bank of New York says household debt balances rose to nearly 13-trillion dollars in 2017.

Women, you can rejoice because you have less debt than men! Source: GoBankingRates


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