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๐จ U.S. Household Debt Hits New Highs
Americans are facing record-breaking debt levels, with household debt reaching $18.6Tโa +60% surge over the last decade. Key stress points:
1๏ธโฃ Auto loans: Delinquencies at a 15-year high of 3%
2๏ธโฃ Subprime auto loans: Default rate hits a record 6.1%
3๏ธโฃ Student loans: Serious delinquencies reach 14.3%, all-time high
4๏ธโฃ Credit cards: Defaults at a 14-year peak of 7.1%
The debt burden is mounting, and defaults are rising across multiple sectorsโhighlighting growing financial pressure on U.S. households.