Personal US debt hits record

[tyroneweaver]

https://www.ze

US Household Debt Hits Record $13.3 Trillion

This is unreal. Wait until this collapses..
This isn't the fault of any president either.
It's peoples greed.

 

[BlackFlag]

MAGA

 

[tyroneweaver]

MAGA

This isn't Trumps or any presidents fault really.
Remember 1.2 trillion of this is when obama took over student loans
For people to borrow like this is stupid.

 

[MarathonMike]

It's not always greed, it takes money to live in America. But Americans do a horrible job at debt management. And yes it is not a Republican or Democrat problem. Unless you are talking about college debt, it is usually "I want" vs "I need".

 

[fncceo]

I blame this guy.

 

[BuckToothMoron]

https://www.ze

US Household Debt Hits Record $13.3 Trillion

This is unreal. Wait until this collapses..
This isn't the fault of any president either.
It's peoples greed.

Do you know how many times that same headline has run - Household debt reaches all time high? And it has nothing to do with people’s greed. It’s the economic system we operate under. Home mortgages didn’t begin until the 19th century, before that you paid cash for a house. I’m not saying that personal debt is too high. I’m saying that personal debt has been going thru dynamic change for decades and it doesn’t necessarily mean doom. But it could this time.

 

[theHawk]

Most people that are in debt are stupid liberals.

Conservatives know how to manage money.

 

[JakeStarkey]

Not true, theHawk. Americans do not know how to handle debt.

 

[Tommy Tainant]

What is "home equity line of credit" ?

Is it borrowing against the value of your house ?

 

[Natural Citizen]

Well, all my junk is paid off.

 

[JakeStarkey]

Credit score, no debt, capital liquidity are the trinity of a healthy financial basis at home.

 

[Correll]

https://www.ze

US Household Debt Hits Record $13.3 Trillion

This is unreal. Wait until this collapses..
This isn't the fault of any president either.
It's peoples greed.

Most of it is house debt. That is interesting.


We really need to downsize what we consider normal for housing.

 

[Correll]

What is "home equity line of credit" ?

Is it borrowing against the value of your house ?

Yes. it is a line of credit, that you can borrow against as you need. Very helpful to have for quick opportunities, but quite dangerous for those who can't control their spending.

I used one on my first house, or as we over hear call it, "starter house" to buy my second house.

THe idea was that I would be able to offer "cash" instead of making an offer contingent on mortgage approval, and thus my offer would look more appealing.


I don't know if that was a factor or not.

 

[Correll]

MAGA

This isn't Trumps or any presidents fault really.
Remember 1.2 trillion of this is when obama took over student loans
For people to borrow like this is stupid.

ANd for people to LOAN like this is professional unethical and immoral.

 

[tyroneweaver]

https://www.ze

US Household Debt Hits Record $13.3 Trillion

This is unreal. Wait until this collapses..
This isn't the fault of any president either.
It's peoples greed.

Most of it is house debt. That is interesting.


We really need to downsize what we consider normal for housing.

The credit card debt is approaching a trillion though

 

[Correll]

https://www.ze

US Household Debt Hits Record $13.3 Trillion

This is unreal. Wait until this collapses..
This isn't the fault of any president either.
It's peoples greed.

Most of it is house debt. That is interesting.


We really need to downsize what we consider normal for housing.

The credit card debt is approaching a trillion though

Yes. OUr lending industry is a mess.

 

[tyroneweaver]

https://www.ze

US Household Debt Hits Record $13.3 Trillion

This is unreal. Wait until this collapses..
This isn't the fault of any president either.
It's peoples greed.

Most of it is house debt. That is interesting.


We really need to downsize what we consider normal for housing.

The credit card debt is approaching a trillion though

Yes. OUr lending industry is a mess.

money, great servant, terrible master

 

[dave p]

MAGA

This isn't Trumps or any presidents fault really.
Remember 1.2 trillion of this is when obama took over student loans
For people to borrow like this is stupid.

ANd for people to LOAN like this is professional unethical and immoral.

Why? Home ownership was at an all time low 3 years ago. This doesn't necessarily mean that people have borrowed too much , it doesn't necessarily mean that lenders are unethical.

 

[Biff_Poindexter]

MAGA

This isn't Trumps or any presidents fault really.
Remember 1.2 trillion of this is when obama took over student loans
For people to borrow like this is stupid.

corporate greed -- everyday americans just had to go with the current of the capitalistic tide..

 

[theHawk]

Credit score, no debt, capital liquidity are the trinity of a healthy financial basis at home.

Why would you need a credit score?
Buy with cash, not debt.