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Average U.S. Consumer Debt
Credit Cards
Average owed by U.S. households:
$16,748
Total owed by U.S. consumers:
$779 billion
Mortgages
Average owed by U.S. households:
$176,222
Total owed by U.S. consumers:
$8.48 trillion
Auto Loans
Average owed by U.S. households:
$28,948
Total owed by U.S. consumers:
$1.16 trillion
Student Loans
Average owed by U.S. households:
$49,905
Total owed by U.S. consumers:
$1.31 trillion
Any Type of Debt
Average owed by U.S. households:
$134,643
Total owed by U.S. consumers:
$12.58 trillion
*Current debt figures as of Q4 2016
Causes
Cost of living expenses have outpaced income growth in different sectors, including medical costs, education and grocery costs.
The Great Recession led to massive layoffs, destroying home values and raising debt among Americans.
U.S. Federal Reserve interest rate hikes have raised Americans’ debts.
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