Debt saddled suburbia: Average loan amount for new and used vehicles in the U.S. set records in the third quarter
College loans, mortgages, car loans, personal loans, credit cards, many people think the middle class debt party will last forever.
(From Yahoo Finance)
U.S. auto debt has continued to expand, ticking up to $1.32 trillion in the third quarter — an increase of $50 billion from a year earlier, according to the latest data from the New York Fed. The percentage of car loans in serious delinquency — with owners behind on payments by 90 days or more — also rose to 4.71% from 4.27% the previous year.