Even America’s Upper Middle Class is feeling poorer
(From Yahoo News)
The cost of many products and services the upper middle class buys, from autos to college educations, is outpacing overall inflation. Despite having access to credit, these households are increasingly tapping into costlier forms of debt…
…Over the past decade, household debt composition, in aggregate, has shifted away from home mortgages — as the main item in the overall debt portfolio — to credit with higher financing costs.