The US now has:
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Record $17.1 trillion in household debt
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Record $12.0 trillion in mortgages
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Record $1.6 trillion in auto loans
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Record US $1.6 trillion in student loans
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Record $1.0 trillion in credit card debt
Total mortgage debt is now more than double its 2006 peak. Meanwhile, 36% of Americans have more card debt credit than savings, while student loan payments are set to resume for the first time since 2020. This is all while mortgage rates hit just 7.1% and credit card debt rates hit a record high of 25%. Source: Kobeissi Letter, Hedgeye