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Household Debt Dip Illusion | Dayton News
Household debt in America just took a rare dip—down $13 billion to $18.8 trillion, the first drop in six years and the first since 2016. But don’t celebrate yet: experts say this drop might be an accounting illusion, thanks to how mortgage companies report transfers. Meanwhile, credit card balances jumped $21 billion and auto loans rose $28 billion. Delinquencies on mortgages and auto loans are climbing, demand for financial counseling is soaring, and more people are enrolling in debt management plans than ever before. Even with raises, many Americans are struggling as housing, food, and…
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