For the first time in history, interest payments on non-mort...
For the first time in history, interest payments on non-mortgage debt in the US are equivalent to interest on mortgage debt, at $575 billion.
Exactly 3 years ago, interest on non-mortgage debt was at $250 billion.
This marks a 130% increase in household interest expense on non-mortgage items over just 3 years.
Furthermore, 3 years ago interest on non-mortgage debt was HALF of interest on mortgage debt.
Americans are "fighting" inflation with high interest rate debt.
How is this sustainable?
Exactly 3 years ago, interest on non-mortgage debt was at $250 billion.
This marks a 130% increase in household interest expense on non-mortgage items over just 3 years.
Furthermore, 3 years ago interest on non-mortgage debt was HALF of interest on mortgage debt.
Americans are "fighting" inflation with high interest rate debt.
How is this sustainable?
![For the first time in history, interest payments on non-mortgage debt in the US are equivalent to interest on mortgage debt, at $575 billion. Exactly 3 years ag...](https://ussnsimg.moomoo.com/sns_client_feed/70040948/20240318/a5f2bd9eed614b6fbcbf174ebfe0478f.jpg/big?area=100&is_public=true)
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