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1114: Americans Are Being Crushed by Credit Card Debt - Episode 1114

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Manage episode 456349638 series 1058770
Content provided by Investing in Real Estate with Clayton Morris | Investing for Beginners and Clayton Morris. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Investing in Real Estate with Clayton Morris | Investing for Beginners and Clayton Morris or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
According to data from the Federal Reserve Bank of New York, credit card delinquencies reached 8.5% in the fourth quarter of 2023 – that’s up from 5.87% in 2022, and 4.1% in 2021. Within a span of two years, credit card delinquencies have more than doubled.
We’re hearing again and again from the current administration the US economy is healthy – yet so many Americans are relying on credit cards, carrying expensive debt that they are ultimately unable to pay back. The total amount of credit card debt in the US has surpassed $1.13 trillion, which on its own is troubling, but the state of delinquencies shows the true financial ruin we’re seeing unfold across the country. On this episode of Investing in Real Estate, we're going to discuss the implications of this mounting consumer debt.
  continue reading

1155 episodes

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iconShare
 
Manage episode 456349638 series 1058770
Content provided by Investing in Real Estate with Clayton Morris | Investing for Beginners and Clayton Morris. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Investing in Real Estate with Clayton Morris | Investing for Beginners and Clayton Morris or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
According to data from the Federal Reserve Bank of New York, credit card delinquencies reached 8.5% in the fourth quarter of 2023 – that’s up from 5.87% in 2022, and 4.1% in 2021. Within a span of two years, credit card delinquencies have more than doubled.
We’re hearing again and again from the current administration the US economy is healthy – yet so many Americans are relying on credit cards, carrying expensive debt that they are ultimately unable to pay back. The total amount of credit card debt in the US has surpassed $1.13 trillion, which on its own is troubling, but the state of delinquencies shows the true financial ruin we’re seeing unfold across the country. On this episode of Investing in Real Estate, we're going to discuss the implications of this mounting consumer debt.
  continue reading

1155 episodes

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