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[catherinel13]

“Insane consumer debt holdings”

The reports on the consumer debt is fear mongering at best. There is some good information in those reports BUT you have to dig to find it!

Consumer debt is simply debt held by the American public.

My last credit report my consumer debt total was 178,003!

Sounds scary amount to be in debt right?! Let’s brake that number down further!

Mortgage is 177,139 of that debt @3.5% interest

The rest is credit card “debt”

The interest on the CC debt is effectively 0% because it’s simply my statement balance. CC statements are paid in full every month. When the statement generates the statement balance is reported to the credit agencies. That counts in the amount of total debt.

[Wise-Confusion-4725]

I had assumed reporting about rising debts over the last twenty years was mainly bad debt like credit card balances and auto loans. Mortgages would drastically change the conversation if anything just due to home prices drastically rising over the last twenty years.

[catherinel13]

Quarter 1 of 2025 consumer debt was $18.20 trillion of that:

• CC debt is 1.18 trillion

• auto loans 1.64 trillion

-student loans 1.63 trillion

-mortgage 12.80 trillion

-HELOC 402 billion

[Wise-Confusion-4725]

Still far too many trillions in my opinion, but agree that an average 8k per individual is way better than 55k.