16.9T of c̶c̶ household debt is around $80,000 per American adult. Not the best.
Even still, a lot of alarmist phrasing in this piece:
> During the fourth quarter of last year, mortgage originations dropped to 2019 levels
Wasn't real estate doing fairly well before the pandemic?
> While total delinquency levels remain below what was seen pre-pandemic - 2.5% of outstanding debt was in some stage of delinquency as of December versus 4.7% at the end of 2019
What's the underlying agenda here? None of this appears deeply concerning to me.
Edit: @eyphka I estimated there are approximately 300m Americans, so that's what I divided by. Turns out there are actually only 200m American adults, though, so the figure is probably more like $7-8k/American taxpayer.
Edit #2: I was off by a factor of 10! 16.9T/200m = $80,000. Sorry.
Even still, a lot of alarmist phrasing in this piece:
> During the fourth quarter of last year, mortgage originations dropped to 2019 levels
Wasn't real estate doing fairly well before the pandemic?
> While total delinquency levels remain below what was seen pre-pandemic - 2.5% of outstanding debt was in some stage of delinquency as of December versus 4.7% at the end of 2019
What's the underlying agenda here? None of this appears deeply concerning to me.
Edit: @eyphka I estimated there are approximately 300m Americans, so that's what I divided by. Turns out there are actually only 200m American adults, though, so the figure is probably more like $7-8k/American taxpayer.
Edit #2: I was off by a factor of 10! 16.9T/200m = $80,000. Sorry.