Research finds debt payments rising faster than household income
New analysis shows repayments climbed well past estimated real earnings, consuming about half of gains for one-earner households.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
New research found that debt payments rose far faster than estimated real household income. The payments absorbed about half of the gains of a one-earner household. A nonprofit credit counselor separately logged figures showing a gap between what Americans spend and what they can afford, with debt reaching a level not seen since 2013.
Why it matters
Household budgets can start to buckle even while consumer spending looks healthy, according to the reports.
Coverage
- America's Debt Crisis Just Hit a Milestone Not Seen Since 2013 (247wallst.com)
- Debt is eating up a bigger chunk of your raise, research shows (CNBC)
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