A recent chart from the Visual Capitalist illustrates how U.S. consumer debt is rapidly approaching a record-breaking $16 trillion. In addition, they point out that the rate of increase in consumer debt for Q4 2021 was also the highest seen since 2007. Stay safe and have a Happy Friday!!!
“Economists believe that today’s housing debt isn’t a cause for concern. This is because the quality of borrowers is much stronger than it was between 2003 and 2007, in the years leading up to the financial crisis and subsequent housing crash.”