American Household Indebtedness
The link below is a post done by NPR back in Q3 2012 regarding the debt of the average US household.
http://www.npr.org/blogs/money/2012...ica-in-3-graphs
http://research.stlouisfed.org/fred2/series/TDSP
I find myself highly skeptical that Household Debt Payments as a percentage of disposable income stands at a measly 10.5%. So if someone were to make $100K per year and assuming a 30% tax rate between state and federal would leave him/her with a disposable income of $70K. This figure suggests the average household is then left with paying only $7500 in debt payments in the year? Huh? Sounds WAYYYY too low.
When you think about the credit cards and more importantly mortgage payments one pays on an annual basis a more realistic figure stands at 20-25%.
Is my interpretation off or do I just hang around with people who are levered to the hilt?
According to the stats I have seen (mainly the disposable income figures from the BEA), median household disposable income should be arnd $100k in current dollars. Using median mtge debt per household of arnd $115k, it all sort of adds up.
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