Monday , 29 May 2023

The State of Household Debt in America

Debt has risen on all fronts to unprecedented levels…and now accounts for $52 trillion in the USA of which American household indebtedness amounted to an average of $118,000 per household in 2020. That’s a big bill to pay. Here’s how the various forms of U.S. household debt compare…

Growing household debt in America

Type of Debt 2003 (in trillions) 2020 (in trillions) % Growth
Mortgage $4.94 $10.04 +103%
Home Equity Revolving $0.24 $0.35 +45%
Auto Loan $0.64 $1.37 +137%
Credit Card $0.69 $0.82 +18%
Student Loan $0.24 $1.56 +550%
Other $0.48 $0.42 -12%
Total $7.23 $14.46 100%

Mortgage Debt

…A fundamental driver of mortgage activity is interest rates. Given the two variables tend to have an inverse relationship with one another, interest rates have a big impact on the affordability of housing. As long as U.S. interest rates remain near 200-year lows, its likely mortgages will maintain at elevated levels.

Student Loans

…Student debt is the fastest growing as a percentage, having shot up 550% from 2003 to 2020.

Editor’s Note:  The original article by Aran Ali has been edited ([ ]) and abridged (…) above for the sake of clarity and brevity to ensure a fast and easy read.  The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.  Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.

A Few Last Words: 

  • Click the “Like” button at the top of the page if you found this article a worthwhile read as this will help us build a bigger audience.
  • Comment below if you want to share your opinion or perspective with other readers and possibly exchange views with them.
  • Register to receive our free Market Intelligence Report newsletter (sample here) in the top right hand corner of this page.
  • Join us on Facebook to be automatically advised of the latest articles posted and to comment on any of them. has joined to provide you with individual company research articles and specific stock recommendations in addition to munKNEE’s more general informative articles on the economy, the markets, and gold, silver and cannabis investing.
Check out eResearch. If you like what you see then…


Sahifa Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.